If a medical marijuana bill passes, MS will have more economic development

While lawmakers wait for a special session on medical marijuana, business owners already have their plans in progress.

LOWNDES/OKTIBBEHA COUNTIES, Miss. (WCBI)-Lawmakers discuss a medical marijuana bill after one fails to pass during the 2021 legislative session.

Earlier this year, a bill similar to Initiative 65 was reviewed.

Now, legislators are working behind the scenes to reach an agreement
If passed, the state of Mississippi will have a new avenue to economic development.

Like any other product – or commodity, this means revenue for the state and jobs for the people.

Mississippi legislators have been here before—reviewing a rejected bill.

While lawmakers wait for a special session on medical marijuana, business owners already have their plans in progress.

One concern is how medical marijuana will be taxed.

“Agriculture taxes are a lot lower than manufacturing taxes, so we’re waiting on that to come out to be able to structure these deals. We look at their capital investment. It generates taxes so that we what a company is taxed on,” said GTR Link Project Manager Betsy Young.

Young says developers are visiting counties in North Mississippi.

“We’ve been working some deals where they’re still working, their still moving deals. They’re looking at properties available in the area. Most of these are looking for larger, older buildings,” said Young.

And with a new business, job creation will likely bring hundreds of employment opportunities.

” The jobs are fairly high-paid. These are jobs that can pay $55,000 a year,” said Young.

State Representative Rob Roberson says medical marijuana is an entirely new venture.

” I’d like to see the people of Mississippi gain and maintain a product and create wealth by having this new avenue. There’s a morality aspect to it, there’s an economic development aspect to it, and there’s a policing aspect to it that all three of these things have to balance out, so we’re not making some mistakes,” said Roberson.

Economic development is expanding across Mississippi.

And businesses continue to invest in a variety of industries.

” If you’re looking at the south and you’re looking at a place that can breed success, Mississippi is the perfect place for that. I think that you’re going to have a huge influx from other places,” said Roberson.

“We continue to bring in those opportunities. I think it’s just going to get better, and we’re going to start seeing some great things to come here,” said Young.

Only Governor Tate Reeves can call a special session.

As of now, the governor has not issued one.