Budding Buckeye
Posted on October 22, 2024
The Grass is growing greener over in Ohio. How does it all compare?
Today marks the first day Ohio’s recreational cannabis sales begin, and it opens strong with just under a 100 dispensaries throughout the state available to purchase recreationally today. It’s about time too considering it was made legal back in December of 2023! Thanks to Ohio’s already fleshed out Medical Marijuana Control Program, most shops meet the requirements already to fall under recreational requirements as well as the medical products previously offered.
The first day of legal sales marks a milestone with over 60% of the state residents reported in favor of recreational legalization, but what are the limits you have to your purchases, how much does Cannabis Cost starting out, and how is the quality compared to states like California?
Recreational opening up to Ohioans is projected to increase the annual tax revenues up $400,000,000 to $500,000,000 from sales. This influx of funds is anticipated to support public services, infrastructure projects, and educational initiatives.
The cannabis industry is poised to create thousands of jobs across the state as well, from cultivation and distribution, to retail and marketing. To be exact, it is estimated about 20,000+ jobs will be opening over the next 5 years within the rec. cann. space. I think growth in employment opportunities and revenue is going to come quicker if it is anything like Montana or New Jersey, whether through a Social Equity program or MSO expansion, I wouldn’t be surprised if the number of stores goes from Ohio’s current 98 rec stores and then continues to open another 10 to 15 stores every month until there is no more room. The speedy growth in New Jersey in particular amazed me personally.
Photo by Richard T on Unsplash
My Company, Buddy, had researched into expansion into New Jersey for our Gummy Products. At the time of booking my flight in September, there were only around 15 to 18 dispensaries in operation in NJ, and upon landing there in December, 2023 over 100 dispensaries had already been licensed. That’s about 25 new shops a month, more than half from MSO operations such as Curaleaf, The Cannabist, and The Apothecarium over in San Francisco. Furthermore, upon speaking to some of the owners and some of the local shops, there are already over 2 to 3000 licenses awaiting in a long line!
Ohio Prices High, More bang for your BuckEye?
When comparing cannabis prices between Ohio and California, notable differences emerge. In California, the average price for a gram of cannabis typically ranges from $10 to $15, depending on the quality and strain nowadays. In contrast, Ohio’s prices are slightly higher, with a gram generally costing between $14 and $20. For larger quantities, such as an eighth or an ounce, California prices average around $35 to $45 for an eighth and $45 to $60 for top shelf and around $95 to $150 for half an ounce, whereas Ohio prices are often between $40 and $55 for an eighth and $180 for half an ounce. These price differences can be attributed to various factors, including the maturity of the market, supply chain efficiencies, and state-specific regulatory costs.
One thing I do know, is quality takes time when entering a newer state. It is important to know what you are purchasing more than anything. With such a new industry, I believe it is going to become a healthy one for Ohio and bring a lot of positive reinforcement to the economy, but make sure you keep track of the products being ingested though by downloading buddy (buddybrand.us). Learning what these newer shelved Ohio exclusive brands cultivate, manufacture, and sell, or what their reputations are like. Learn what is contained within the strain and discover how credible are the edibles.
In terms of product quality, Ohio’s cannabis industry is still in the early stages of development compared to California, which has a long-established reputation for premium cannabis like many of the other senior states. Ohio cultivators are adopting advanced growing techniques to produce high-quality cannabis, bringing over seeds as well, but California’s market benefits from decades of experience, a diverse range of strains, and highly skilled growers. Gummies have nanotizing capabilities, speeding up the effects from first ingesting. To compete effectively, Ohio will need to expand its product offerings and ensure rigorous quality control standards.
As Ohio embarks on this new chapter of recreational marijuana legalization, the potential benefits for the state’s economy and community are substantial. By learning from the experiences of other states like California and implementing a robust regulatory framework, Ohio can develop a thriving and responsible cannabis industry that meets the needs of its residents.
If ever in the area, check out some of the newly recreational dispensaries and let me know your thoughts on how quality and price compare to the senior states!
- Culture Cannabis Club: 1568 E. Archwood Ave., Akron
- The Botanist: 46 S. Summit St., Akron
- FRX Health: 1682 State Road, Cuyahoga Falls
- Blooms Medicinals, 737 E. North St., Akron
- Bliss Ohio: 331 E. Main St., Kent
- Supergood: 554 N. Chestnut St., Ravenna