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Thu Oct 12, 2017, 10:36 AM

Marijuana Growers at Risk of Being Wiped Out by California Fires

•Industry representative says at least six farms destroyed
•Uninsured and unbanked, cannabis farmers face tough road back

By Jennifer Kaplan
October 12, 2017, 7:00 AM EDT

For many businesses in northern California, it will take years to rebuild from the wildfires that have decimated the region. For many legal cannabis growers, the destruction could be insurmountable.

At least six marijuana farms have been destroyed, said Hezekiah Allen, executive director at the California Growers Association. That number is likely to rise significantly as communications come back online and people who have evacuated the area are allowed to return and assess damages.

The growers face a challenging outlook because they don’t have access to a key lifeline in the world of agriculture: crop insurance. They also have little, if any, access to loans as banks continue to shy away from businesses selling a product that’s illegal under federal law. If the region receives federal relief, pot farmers can’t get that either. So their cost of rebuilding will be entirely out-of-pocket.

“A lot of folks’ hopes and dreams for legal cannabis are in ashes or covered in smoke right now,” Allen said.

more...

https://www.bloomberg.com/news/articles/2017-10-12/marijuana-growers-at-risk-of-being-wiped-out-by-california-fires

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Reply Marijuana Growers at Risk of Being Wiped Out by California Fires (Original post)
RCW2014 Oct 12 OP
Gunslinger201 Oct 12 #1

Response to RCW2014 (Original post)

Thu Oct 12, 2017, 10:43 AM

1. Good thing I didn't invest in California Marijuana



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