{"id":2168967,"date":"2024-02-06T09:52:01","date_gmt":"2024-02-06T14:52:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/forward-thinking-new-mexico-goes-from-legal-marijuana-to-taxpayer-subsidized-weed\/"},"modified":"2024-02-06T09:59:05","modified_gmt":"2024-02-06T14:59:05","slug":"forward-thinking-new-mexico-goes-from-legal-marijuana-to-taxpayer-subsidized-weed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/forward-thinking-new-mexico-goes-from-legal-marijuana-to-taxpayer-subsidized-weed\/","title":{"rendered":"Progressive New Mexico transitions from legalizing marijuana to providing taxpayer-funded subsidies for cannabis"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fforward-thinking-new-mexico-goes-from-legal-marijuana-to-taxpayer-subsidized-weed%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2168967&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Taxpayers Subsidizing New Mexico&#8217;s Cannabis Industry<\/h2>\n<p>Legal recreational marijuana was expected to bring\u2063 in profits for New\u2063 Mexico, but now taxpayers are\u2064 footing the bill. The\u2062 New Mexico Economic Development Department has allocated $90,000 from the Local Economic Development Act job-creation fund to Vana LLC,\u2064 a cannabis manufacturing business.<\/p>\n<blockquote>\n<p>&#8220;The company has constructed a cutting-edge growing and manufacturing \u2062facility, engaging local contractors and subcontractors,&#8221; a release stated.\u2062 &#8220;It also sources locally\u200d grown cannabis products to process for area farmers, creating an affordable avenue for farmers and micro-producers to manufacture and sell their products and\u2063 fostering a sustainable\u2063 local business ecosystem. Vana benefits from a partnership with sister companies Orenda Farms and Vana Society, allowing it to grow, \u2064manufacture, and distribute boutique products.&#8221;<\/p>\n<\/blockquote>\n<p>This marks\u2063 the first LEDA grant\u2064 awarded to a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/virginia-is-for-stoners-commonwealth-becomes-16th-state-to-legalize-marijuana\/\" title=\"Virginia Is For Stoners: Commonwealth Becomes 16th State To Legalize Marijuana\">cannabis business<\/a> \u2063in New Mexico. However, the EDD has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-white-house-says-it-does-extensive-work-to-avoid-funding-terror-supporters-state-department-grants-say-otherwise\/\" title=\"White House claims to avoid funding terror supporters, but State Department grants suggest otherwise.\">previously provided funding<\/a>\u2064 to other cannabis and hemp entities \u200dthrough programs like the Job Training Incentive \u2064Program.<\/p>\n<p>Vana plans \u200dto hire 12 new employees with average salaries of $46,626 per year and invest $2.6 million in the state over the next\u200c decade. The company obtained the state&#8217;s first \u2063approved cannabis manufacturing license\u2063 two years ago and is licensed for \u2064indoor and outdoor farms, a manufacturing\u200c facility, and \u200dtwo retail locations serving both medical and recreational markets.<\/p>\n<p>The company expects to eventually employ\u2064 45 to 50 New Mexicans.<\/p>\n<blockquote>\n<p>&#8220;EDD&#8217;s investment in Clovis-based Vana LLC is \u2063a testament to the success of Gov. Michelle Lujan Grisham&#8217;s forward-thinking economic policies,&#8221; said Acting EDD Secretary Mark Roper. &#8220;The legalization of recreational cannabis in \u2062New Mexico is growing businesses \u2063and helping\u2063 rural communities diversify their \u2063economy and add jobs.&#8221;<\/p>\n<\/blockquote>\n<p>Vana estimates that it\u2063 will contribute approximately $350,000 in \u200dgross receipts\u2062 tax \u2063to the City of Clovis each year.<\/p>\n<blockquote>\n<p>&#8220;We have roots in this \u200dcommunity, and we want to give back to the community where we \u200braised our family,&#8221; said Vana CEO and \u2062founder Parin Kumar. &#8220;This \u2062investment is \u200ca big commitment for us, and the state assistance is important to \u200bbuild partnerships so we can achieve long-term\u2062 success\u200d as we add employees\u2062 and grow.&#8221;<\/p>\n<\/blockquote>\n<p>According to the Department of Workforce Solutions, the cannabis industry employed 2,022 people in New Mexico at the end of\u200c 2022, \u2064with \u206488% of those employed\u200d working at \u200cmarijuana dispensaries.<\/p>\n<p> <\/p>\n<h2> What are the concerns raised by opponents regarding the necessity and fairness of subsidizing \u2064an already profitable industry?<\/h2>\n<p><span>  Ts.&#8221;<\/p>\n<\/blockquote>\n<p>This move by the New Mexico Economic Development Department \u2062has sparked controversy\u200c among\u2063 taxpayers. Many \u200bargue that subsidizing the\u200c cannabis industry with taxpayer money is unjust and inappropriate.\u2062 They question why\u2062 a \u200dprofitable industry like marijuana needs financial\u200b assistance \u2063from the\u2063 public.<\/p>\n<p>Supporters of the\u2063 subsidy argue that it\u200c will create jobs and boost the local economy. By investing in cannabis manufacturing businesses like Vana LLC, they believe that New\u200d Mexico can\u2064 become a leader in the cannabis \u2064industry and attract more businesses\u200d and\u2064 tourists. \u200bThey argue that the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-office-opposition-from-ncaa-woke-corporations-strengthened-his-resolve-to-protect-girls\/\" title=\"DeSantis\u2019 Office: Opposition From NCAA, \u2018Woke\u2019 Corporations \u2018Strengthened His Resolve\u2019 To Protect Girls\">long-term benefits<\/a> will outweigh \u2062the initial costs.<\/p>\n<p>However, opponents \u2062argue that subsidizing \u2062an industry that is already generating significant\u2063 revenue is unnecessary and unfair.\u200c They highlight that the cannabis \u2062industry\u2064 is\u200b thriving in New\u200b Mexico, with millions of dollars in\u200b tax revenue being\u2062 generated. Instead of using \u200ctaxpayer money, they believe that the government \u2062should focus on funding areas that \u2063truly \u2064need financial assistance, such as\u200d education and healthcare.<\/p>\n<p>Additionally, critics question the fairness of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-great-natural-gas-price-hike-of-2022-is-here\/\" title=\"The Great Natural Gas Price Hike Of 2022 Is Here\">providing financial support<\/a> to only a select\u2064 few businesses in the cannabis industry. They argue that this \u200dpreferential \u2063treatment undermines\u200d fair competition and hinders the growth of other businesses in the state.<\/p>\n<p>Another concern raised by taxpayers is the potential misuse of taxpayer funds. They worry \u200dthat the allocated money may not be used efficiently or may be mishandled by the recipients. They call for \u200dtransparency and accountability in the distribution and\u200c use of taxpayer subsidies.<\/p>\n<p>Furthermore,\u200c opponents \u2063of\u2063 the subsidy argue that it sets a problematic precedent. If\u2062 the government continues to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pro-life-groups-sue-san-antonio-over-500000-out-of-state-abortion-fund\/\" title=\"Pro-life groups sue San Antonio over abortion fund.\">allocate taxpayer money<\/a> to\u2064 the cannabis industry, \u200bit may encourage other industries to seek similar \u2063financial assistance. This could lead to a\u200d situation where\u200c taxpayers are subsidizing various industries,\u2062 ultimately burdening them with unnecessary\u200b financial responsibilities.<\/p>\n<p>In conclusion, the allocation of taxpayer funds to subsidize New Mexico&#8217;s\u200b cannabis industry has ignited a debate among the public. Supporters argue that the subsidy will boost the local economy and create\u2063 jobs, positioning the state as\u2064 a leader \u2063in\u2063 the\u2063 cannabis industry. However, opponents question the \u2064necessity and fairness of subsidizing an \u200balready profitable industry, suggesting that taxpayer money\u200d should be directed towards areas in need such as education and healthcare. Transparency, accountability,\u2064 and potential misuse of taxpayer funds are also concerns raised.\u200b The outcome of this debate will shape the future relationship between taxpayers \u200band the cannabis industry in New Mexico.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Received the funding to support job creation and economic growth in the state,\u201d said the Department. Despite the initial expectation of generating revenue, the marijuana industry in New Mexico is now being financially supported by taxpayers, raising concerns about the viability of the market and its impact on the state&#8217;s economy<\/p>\n","protected":false},"author":2839,"featured_media":2168968,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"http:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2023\/12\/f6794c0a978e38113a2b77136d7651df-scaled.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2168967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"http:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2023\/12\/f6794c0a978e38113a2b77136d7651df-scaled.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2168967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2839"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2168967"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2168967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2168968"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2168967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2168967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2168967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}