By Jana Weltzin | Fairbanks Daily News-Miner
Born and raised in Fairbanks, and now working at a law firm that represents hundreds of medical marijuana businesses nationwide and had significant input on various statewide and local rules, I can tell you that regardless of whether you voted for the recreational marijuana initiative, the Last Frontier will enjoy an enormous economic benefit from this new industry.
Arizona’s initiative, while limited to just medical marijuana, gave creative, business-savvy entrepreneurs the ability to develop a lucrative business even though Arizona’s economy at the time was near the worst in the nation. I remember the diverse parade of enterprising entrepreneurs who met with our team — ranging from the buttoned-up hedge fund manager who flew his private jet from New York City, mothers of children with chronic, painful diseases, to the medical development companies wanting to test to see if they might come up with the newest cure.
In 2011, I would have taken a bet that every Arizonan had only two degrees of separation between them and someone who was trying to get into the medical marijuana business in some way. In fact, the director of our marijuana department, Ryan Hurley, after being at a party where a massage therapist handed him two business cards — one for his massage business and the other as a “Marijuana Dispensary Consultant” — opined that the industry had officially been invaded with get-rich-quick amateurs.
We marveled at wildly creative concepts that these start-ups presented. It occurred to us that not since the creation of the utilities had there been a totally new regulated industry to capture the best of the American entrepreneurial spirit. People from all over the country came to try to figure out how to develop an industry that didn’t exist. It felt like the gold rush and Arizona’s economy was substantially boosted. Similar to Alaska, Arizona taxes the industry so even those without direct involvement win. In the next nine months, as the rules are formulated, I predict that Alaska will feel that same amazing spirit of economic excitement that Arizona continues to experience.
I am especially hopeful that tribal governments will capitalize on this unique opportunity for the benefit of their communities. We have always been a state filled with extreme American dreamers and our Alaskan enthusiasm will give us the economic jolt we need and deserve. I can’t wait to watch as we develop what will hopefully be the best rules in the nation.
Jana Weltzin grew up in Fairbanks. She now works as a lawyer for the Rose Law Group in Arizona, focusing her legal practice on land use and zoning law, family law and Native American law.
