By Becky Gillette – “We will have to wait until the Medical Marijuana Commission finalizes the process and procedures before we know for sure what can be done,” Mayor Butch Berry said this week, adding that the city of Eureka Springs will do all it can to encourage a medical marijuana dispensary and/or cultivation center licensee in Eureka Springs.
This past week Berry and the Mayor’s Economic Development Task Force hosted Little Rock Attorney David Couch, author of the Arkansas Medical Marijuana Amendment that passed Nov. 8, for a public meeting at the Eureka Springs courthouse to discuss the new law. Berry said they have confirmed Couch will come back as soon as the commission establishes rules, and hold workshops on filing the applications.
“At present, we are looking at sometime in late March or early April for the local workshop,” he said. “This legislation will generate a new revenue stream for the state and Eureka Springs if one of the licenses is granted to someone in the city,” Berry said. “Eureka Springs was developed because of the healing benefits of its springs. So, in my humble opinion, it would be a great fit for Eureka Springs to once again be known for contemporary medical arts and healing center. I believe that Eureka Springs would be a natural fit because of our location and the population we serve.”
Berry said another possible benefit for Eureka Springs would be an increase in population with individuals and families moving here to take advantage of the legislation. “We’ve seen this happen in Colorado and it could very well happen here, also. One of the goals of the Mayor’s Task Force on Economic Development is to diversify our economy and strike a balance of about 20-30 percent non-tourism and 70-80 percent tourism. The medical marijuana industry opens up new jobs, new skills and a wide range of new opportunities for our town. There is a tremendous amount of interest and enthusiasm for this initiative in Eureka Springs. This was not only demonstrated by the community meeting attendance, but also by the number of conversations we’ve had with residents and potential investors.”
Couch estimated it would cost about $300,000 to open a dispensary, which would be allowed to grow up to 50 plants. He estimated the cost at $1 million for a grow facility. There are reportedly several individuals in the area working on business plans for marijuana facilities.
The economic impact to Eureka Springs and the state of Arkansas would be even greater if it follows the lead of other states following the legalizing of medicinal use with recreational use. Even some conservative lawmakers, facing deficits in their states, have eyed with envy the huge windfall in taxes from states with recreational marijuana.
At the meeting at the courthouse last week, Couch said that “if the wheel don’t fall off” with medical marijuana, it is possible there could be another marijuana voter referendum in four years legalizing recreational marijuana.
Arkansas is the first “red” state to approve medical marijuana. That might present an opportunity similar to when casinos were legalized in Mississippi while still being illegal in surrounding states. Mississippi saw billions of dollars of developments along the Mississippi River and the Gulf Coast for about a decade until more casinos were built in neighboring states. In 2016, Colorado had income of about $135 million on recreational marijuana taxes and fees, on $996 million in sales.
A recent Pew Poll shows that 57 percent of Americans believe marijuana should be legal. The National Organization for the Reform of Marijuana Laws says polls show medical marijuana is supported by 80 percent of people surveyed.