Bellingham Business Journal, August 03, 2015

Page 1

Vol. 23 No. 8

August 2015

Pinball collective finds permanent home in new bar on State Street [Page 14]

The Buzz The Oyster Kings: Family built shellfish empire “one shovelful at a time” Taylor Shellfish Company with Samish Bay farm operates a global business. SHELLFISH, 9

WWU construction project to employ up to 200 for 18 months A $70 million renovation to the Carver Academic Facility is poised to start. CARVER, 7

Business toolkit Matt Cooper, left, chats with Ian Lottis at Cascade Herb Company, a recreational marijuana shop at 1240 E. Maple St. [OLIVER LAZENBY PHOTO | THE BBJ]

What does a strong dollar mean for investors?

Legal roller coaster continues for marijuana

TOOLKIT, 19

New laws set to shake up the year-old industry as medical cannabis is rolled into legal system

It’s time to stop thinking of vacation time as a benefit.

BY OLIVER LAZENBY The Bellingham Business Journal Business has been steady at Cascade Herb Company in Bellingham since it opened last August. According to data from the recently renamed Washington State Liquor and Cannabis Board, taxable sales have grown each month at the shop and Justin West, store owner, said the number of younger customers has increased—a sign that the legal market is supplanting the black market. West and other marijuana business owners in Washington are riding a legal roller coaster that will soon take another turn. Gov. Jay

Inslee signed a bill in April aimed at eliminating the medical marijuana market. By July 2016, medical dispensaries will need to either close or obtain a license to operate under the recreational system. The law’s purpose is to reduce the “gray market” of medical marijuana patients who are really recreational users. Some regulated stores see the law as leveling the playing field. They would no longer have to compete with medical dispensaries, which aren’t as tightly regulated as recreational stores and don’t pay a 37 percent state excise tax. Prices for recreational marijuana have come down during the last year, but they’re

still a couple dollars more than medical prices, retailers say. Business owners in both the recreational and medical industries expect the law change to help them financially. The Liquor and Cannabis Board plans to issue retail licenses to some current dispensaries and that could help recreational marijuana growers, which currently outnumber

VACATION, 22

Marijuana, PAGE 12

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