Washington Initiative 502 (I-502) was approved by popular vote on November 6, 2012. The initiative defined and legalized small amounts of marijuana-related products for adults 21 and over, taxes them and designates the revenue for healthcare and substance-abuse prevention and education.
With the approval of I-502 comes a new and growing industry, one that is sure to be profitable. The state has estimated the fiscal impact to be between $2.7 million and $4.3 million with total revenue generated to the state being over $1.9 billion over the next 5 years.
The Washington State Liquor Control Board, the agency in charge of implementing I-502, has created three classifications - or tiers, for marijuana producers, processors and retailers. Fuzzy Limit has applied to be a Tier 2 Producer/Processor, which allows for between two thousand square feet and ten thousand square feet of dedicated plant canopy.
For a limited time during our initial growth and setup, we are interested in bringing on potential investors to partner with us as we fully establish our business model. Our vision is to not only be the industry leader in what we do but we also have plans to provide technology and systems that will become industry standards for the cannabis businesses in the state of Washington and other states as they legalize marijuana in the coming years.
If you are interested in investing or would like to find out more information about our business model we invite you to click here and contact us.