Texas Cannabis Companies’ Economic Impact Predicted To Surpass Wine

But of course, since it’s Texas, there’s a catch.
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Cannabis businesses in Texas may soon make more money than the wine industry, the Austin Business Journal reports. Cannabis companies brought in over $8 billion in revenue in 2022, according to a new report from Whitney Economics, an Oregon-based cannabis and hemp analytics firm. Even though plenty of people enjoy both wine and weed (sometimes together), the booze hounds and the stoners are always competing against one another, even just for fun. And, at the moment, in Texas, the sommeliers may need to watch their backs. 

However, unfortunately, there is one major setback keeping the stoners from celebrating this win. Recreational cannabis is still illegal in Texas. Possession of up to two ounces is a class B misdemeanor and can get you up to 180 days in prison and a fine of up to $2,000. In November of 2022, the vast majority of voters in Denton, Texas, approved a measure decriminalizing low-level marijuana offenses. However, city leaders defied those results, voting “against adopting the ordinance that would have decriminalized marijuana” by a margin of 4-3, CBS News Texas reported.

The Tex-Mex restaurant E-Bar recently went viral for its anti-stoner policy posted on its window reading: “If You Have The Smell Of Marijuana On You We Will Not Serve You.” 

The Lone Star State allows medical cannabis for conditions such as epilepsy, multiple sclerosis, and terminal cancer. Texas’ Compassionate Use Program confirmed they had nearly 61,000 registered patients in July (up from more than 45,000 in January, according to state data).

However, that doesn’t mean that Texans who use marijuana medically can just get a high-THC edible delivered to really knock out the pain while they kick back to binge-watch a dark comedy. Residents in states like New York and California forget how good they have it. In Texas, medical patients are only granted low-THC oil, with less than 1% THC. This law has been in effect since 2015. CBD is legal, thanks to the passage of the 2018 Farm Bill, and that’s what these analytics looked at. 

“This landmark study affirms the true value the hemp industry provides our state, from creating jobs and supporting livable wages to fostering business expansion and product innovation,” stated Ilissa Nolan in a statement, executive director of the Texas Hemp Coalition, a nonprofit dedicated to hemp advocacy and education, the Austin Business Journal reports

Whitney Economics compiled the data using surveys sent to CBD and hemp retailers, manufacturers, distributors, and smoke and vape shops, gas stations—pretty much any type of business that sells CBD was included. But only some of them got to participate. Around 53% of the estimated 5,000 hemp, CBD, and cannabinoid retailers, manufacturers, and distributors in Texas received the survey. So, these findings, while exciting, are limited. 

According to the data, businesses involved in hemp-derived CBD, from the manufacturing to the storefront, employed more than 50,000 Texans, generating between $19.1 billion to $22.4 billion in economic growth. (Revenue, which is income, is different from economic growth, which is an increase in the production of goods and services in an economy, hence the disparity between the earlier cited $8 billion figure). Worker wages in the cannabis space went beyond $1.6 billion. 

Conversely, the wine industry generated more than $20 billion for the Texas economy, according to Wine America, supporting more than 141,000 jobs with nearly $7 billion earned in worker wages. 

Alcohol sale was restricted in Texas leading up to national prohibition, which lasted from January 17, 1920 to December 5, 1933, but business has been booming since then. CBD has only been able to establish itself as a legal business model in the Lone Star state since 2018. Considering cannabis is already catching up to wine, despite the fact that it’s only legal in its mildest form (CBD), this indicates that Texans are voting with their money, and that money says that they want more cannabis. 

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  1. You know, it’s sad that the legislatures in Texas, or so pig headed and arrogant that they have the audacity to even consider not listening to their constituents, the majority of which want recreational cannabis in Texas. It’s the likes of people like our governor on down, would be truly embarrassed were they to give Texans what they want, be it the billions of dollars they’ve spent trying to stop the influx of cannabis it Texas through the border. They aren’t on board with the proven idea that once you decriminalization it, the market changes. Most will no longer buy their weed from their plug,they’ll go to their local dispensary. Thus, the cartels will discontinue shipping it here, simply because selling drugs is just like any other business….based on supply and demand. No demand for their low grade product, then why would they want to spend the time and money to get it here so it can mold and spoil.

    Vote to legalize Texas. 420

    1. Cartels run illegal grow ops all over south California, a recreational state. Do more research, I’m about legalization, but done right. Nobody truly has yet. It turn into a shit show.

    2. Dan Patrick, LT Gov, is a bigett baptist along with Abbott. I’m embarrassed by Texas law. I was born in Texas and I’m 76. I’m well educated and Vietnam Veteran.

      Where is Davy Crocket when you need him.

  2. Recreational cannibas use will never be legal in Texas as long as we have white old men at the helm. Vote Abbott and his cronies out if we ever expect that to change. Texas is losing literally billions of dollars each year from potential revenue of legal cannibus sells.

    1. Hell yeah. Let’s get the most liberal leftys in there we can find and we can run our cities like philly or portland or detroit etc etc etc.

      1. When I’m doubt vote libertarian. People on the left, while usually well meaning just doesn’t can’t acknowledge or process the fact that with expanded government comes expanded opportunities for corruption and oppression. The Stanford prison experiment has shown the world on a small scale that most people will abuse their authority and power.

  3. Ok I live in Texas n I have most of my life except for a few years in Arizona and Colorado. As long as those old white haired dudes in office (Abbott) cannabis will never ever become recreational here. I’m also a Stroke Victim in extreme pain and I’m in the Compassionate Use Program and let me tell you personally it’s Garbage. They give you the weakest THC oil possible and it’s$ 60- 90$ for a measly 300 mg bottle of stomach sickening oil they make us eat. It’s complete and utter BS and does not work for my pain and upsets the crap out my stomach. Not just that but it’s financially impossible because id go thru a 60$ bottle every day . Abbott and Texas absolutely do not care about it’s disabled and would rather see us on dangerous opioids and alcohol because it’s legal and their crappy oil absolutely does not work especially for 60$ a day I’m on SSDI and can’t afford that. Please vote these monsters out of office. I’m a life long stoner always will be. I smoke high grade cannabis every single day and have every day here in Texas for the last 30 years. Weeds absolutely not hard to get here and my plug gives me my medicine at a fraction of the price of the Compassionate Use Program. They should call it the Uncompassionate Use program because it sucks n nobody can afford their trash oil that doesn’t work. Honestly I want my 200 dollars back for the order of oil they burned me on . Stuff was trashy as hell🤣. Honestly I could care less about Texas Law I will smoke cannabis every day with impunity and a huge smile on my face. Laws r only laws if you follow them. I’m in pain and could care less about Texas marijuana law🤣 they’re a bunch a grey haired idiots who knows nothing about pain.

    1. AS A PROUD RESIDENT OF AUSTIN AND A CASUAL WEED SMOKER I CAN TELL YOU AUSTINITES HAVE SMOKED WEED WITH NO TROUBLE AND THE STREET WEED IF YOU KNOW WHERE TO GET IT IS TOP SHELF LONG LIVE AUSTIN LONG LIVE TEXAS LONG LIVE THE TEXAS REPUBLICAN PARTY !!!!!!!

  4. With weed and gambling our ‘good old boys’ in the Texas legislature will never legalize it. Take a trip to any of our borders and you will see all the Texas vehicles at the casinos and dispensaries. Do they think they are stopping Texans? They are only pushing millions (billions?) of dollars to NM, OK and LA. And then wonder why they can’t fully fund the mandated security guards at every school. Stupidity at it’s finest.

  5. i was researching about autoimmune diseases(Multiple Sclerosis to be specific) and current health tech to help curb/manage it and i found this website ww w. naturalherbscentre. com It made a tremendous difference for me I had improved walking balance, muscle strength and improved vision, always thankful for nature that helps in managing these terrible diseases. I’m active now, I can personally vouch for these remedy but you would probably need to decide what works best for you🧡.

  6. The current approach to nationwide to legalization is long and arduous. The fact is on a federal level weed is still on the schedule 1 list. That’s not the only reason recreational weed is still illegal in many states, but it helps give state lawmakers a leg to stand on so they can continue to block it. That needs to be a focal point for lobbying efforts. Make federal lawmakers, courts, on up take a stand on recreational legalization, and hold those opposed to legalization accountable come election day. Weed is infinitely safer than alcohol and carries an overwhelming less risk of physical, chemical dependency as proven by study after study. It’s continued prohibition makes no sense, other than big alcohol lobbying efforts against it cutting into their profits. Federal legalization needs to be shoved in the face of every candidate running for office, and evidence given as to why continued prohibition makes no sense. For those candidates continuing to oppose federal legalization, they then need to explain their reasons for their antiquated views. As for cartel illegal grow operations making into our markets, that’s just a conservative red herring. Federal, state, and local lawmakers can mandate labels indicating point of origin for growing, producing, and packaging that allows for severe fines and punishment for weed coming in from unknown sources. There’s even room to allow the individual to grow a limited amount for personal use like alcohol. It make zero sense to continue to prohibit weed use on a national level anymore. It’s significantly safer for medical and personal use than alcohol and opiates.

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