DENVER, Sept. 14, 2021 (GLOBE NEWSWIRE) – In the United States, the cannabis industry has seen dynamic and fast-paced change as it becomes more mainstream for both medicinal and recreational uses. In Colorado alone, the economic impact since the passing of Colorado Amendment 64 has been staggering – affecting jobs, tourism, and tax revenues.
According to a July 2021 report, there were 2,709 licensed marijuana companies registered in Colorado as of June 2020. Total tax, license, and fee income increased from $ 67 million in 2014 to $ 387 million in 2020. The amount of tax transferred to the School Capital Construction Fund and Public School Fund increased 264% from $ 33 million Dollars in 2015 to $ 120 million in 2020. Additionally, House Bill 1090, passed in November 2019, opened the door for foreign investors and public companies to invest in Colorado’s cannabis industry. This has resulted in a spate of consolidations, mergers, and acquisitions in the Colorado cannabis market, a trend that is taking place in the United States.
As the highly regulated industry continues on its rapid growth trajectory, solid strategies for consolidation, M&A activities and IPO opportunities are more important than ever. Vaco, A talent solutions company that provides consulting, contract and direct hiring solutions around the globe, is hosting a virtual and personal hybrid event dedicated to continuing professional education (CPE) to meet investor expectations, controls and processes as well Discuss financial vulnerabilities and feasible solutions as part of the company’s Blaze CPE series.
“Financial challenges are among the long list of growth problems cannabis companies face,” said Bea Sonnendecker, general manager of Vaco’s Denver office. “As the industry matures, the barriers to entry become higher, creating a need for collaborative problem solving and strategic networking that doesn’t exist in other industries. We look forward to bringing the industry leaders together for an insightful discussion. “
The event on September 21, Growing Pains: Financing Challenges as Cannabis Goes Mainstream, will be hosted both virtually and in person and will be moderated by Sonnendecker. Industry experts participating in the panel discussion included Jared Benedict, Executive Director, Accounting and Transaction Services, MorganFranklin Consulting; Terry Buffalo, CEO, American Cannabis Company; Wanda James, CEO and Co-Founder of Simply Pure Dispensary; and Frank Knüttel, CEO, Unrivaled Brands.
Participants can earn two CPE points in business administration and organization. Register at: https://www.vaco.com/resources/webinars/growing-pains-financing-challenges-as-cannabis-goes-mainstream/.
Vaco provides its clients with critical talent solutions through consulting, project resources, executive search, direct hiring and strategic people solutions with expertise in accounting and finance, technology and operations. In addition to Vaco, our family of brands includes MorganFranklin Consulting, a method-driven global consulting platform; Pivot Point Consulting, a leading provider of healthcare IT solutions from KLAS; and Focus Search Partners, a retained executive search practice. Since it was founded in 2002, Vaco has grown to more than 12,000 customers around the world with 10,000 employees. Vaco has been named to Inc. Magazine’s list of Fastest Growing Private Firms for the past 15 years and was named to Forbes’ 2018-2021 lists of America’s Best Recruiting Firms.
Leading companies in the cannabis industry work together to share financial insights into the ever-changing industry