California’s cannabis regulations are the most business-friendly in the nation, according to an analysis conducted by the legal firm Thompson Coburn LLP.
The firm recently produced a “holistic state-by-state ranking guide that breaks down how favorable each state’s cannabis regulations are to businesses,” that put California at the top of the list of all 50 states plus Washington, D.C., according to a statement released on behalf of the firm.
The ranking gauged states on eight metrics, including legality and availability of recreational and medical cannabis, availability of commercial cannabis licenses and business opportunities.
“Overall, California’s attitude toward cannabis legalization and regulation is welcoming when compared to other states,” the report found. “With a robust supply chain for both medical and adult use emerging throughout the state, California leads the nation in its regulation of commercial cannabis activity and cannabis use.”
Though California got top marks, the report pointed out that there are several problem areas for marijuana companies looking to do business in the Golden State.
The report pointed out that a majority of municipalities prohibit commercial cannabis activities, creating a patchwork of legal statuses for marijuana businesses across the state.
“While some municipalities impose further restrictions or prohibit adult use, there are many that see legalization as an economic opportunity to be capitalized on,” the report found.
California took No. 1, ahead of Nevada, Colorado, Massachusetts and Oregon.
Rounding out the bottom five, rated least favorable for doing business in the cannabis industry, were the states of South Carolina (No. 46), Tennessee (No. 47), North Carolina (No. 48), South Dakota (No. 49), Idaho (No. 50) and Nebraska (No. 51).