The Grass is Greener in the Evergreen State

Washington state is known for its diverse geography, fertile growing regions, and major metropolitan areas such as Seattle and Tacoma. Since it became the second state to legalize cannabis for adult use in 2012, it’s been central to America’s developing cannabis industry. It has also served as an example of what to do and what to avoid when rolling out a newly regulated industry. Its cannabis taxes are among the highest in the country at 46.2%, including excise, state, and local taxes. While high taxation has made it difficult for consumers to turn away from the illicit marketplace, taxes and license fees continue to bring in hundreds of millions in revenue for the state. Healthcare and law enforcement are two of the primary recipients of Washington state cannabis taxes. The legal cannabis industry also directly employs over 11,00 employees, according to High Peak Strategy’s 2022 economic analysis.

Washington ranked as the best state economy in the country according to WalletHub in 2022. CNBC rated it America’s second-best state for doing business in 2022 and WalletHub dubbed it the third most innovative state in America in 2023.

In this regional spotlight, Cannabis & Tech Today will explore the companies and technologies driving Washington’s cannabis economy forward and look at what’s on the horizon for this rapidly developing economic center.