The State Illinois Black Chamber hosted special delegates from Jamaica, State dignitaries, partners, and statewide constituents at the Hollywood Casino-Hotel Joliet to launch the “Global Cannabis Investment Fund” and to convey the vast but targeted opportunities within our domestic and international operations that are ready to be shared.
With full adult recreational use beginning in Illinois in January 2020 to compliment the already booming medicinal markets in place, the stage has been set to realize the industry’s profit potentials and the Chamber has been intentional about setting our footprint and the Black business interests in place. We’re addressing the precedent- setting social equity component as well as the equally important, but much less recognized, Black business equity component simultaneously with this model.
The Mistress of Ceremonies opened up the event with greetings aromatized with a gentle island breeze infused with the distinct smell of fresh money; That “fresh money” being in excess of 40 billion dollars that the U.S. Cannabis Industry is projected to generate for 2019. Illinois will put at least one billion dollars in its coffers from application and usage fees, and taxes from cannabis in 2020 alone. The “Green Rush” is on!
According to the Hon. Audley Shaw, CDMP, Minister of Industry, Commerce, Agriculture and Fisheries in Jamaica, “Medical marijuana is one of the fastest- growing sectors in medicine globally.” Our keynote speaker, Minister Floyd Green, went further to say “Thousands of acres of land in Jamaica will be made available for the cultivation of industrial hemp (low in THC, high in CDB) as well as greenhouse planting, which will play a major role in the development of the industry.” Then our international farming partner Nature’s Purest Ltd went on to present a comprehensive presentation of opportunities on the ground in Jamaica for our tentative IF members.
Savvy and forward thinking investors in the United States can take advantage of Jamaican cannabis’ built-in brand, which has already proven to be a powerful sales driver. Jamaica is positioned to become a global hub for low-cost, high-quality cannabis production, and the reputation of Jamaican cannabis is likely to maintain it as a sought-after commodity all over the legal cannabis world.
Mr. Larry D. Ivory, Founder, President and CEO of the Illinois Black Chamber of Commerce, the largest, most active voice for Black businesses in the state of Illinois stated, “We recognize that states in the Midwest and along the East Coast are more populous than those out west, offering greater potential for long-term growth among cannabis companies. States like Illinois are expected to rival Colorado and Nevada in terms of total market demand according to indicators like Forbes and the Chicago-based cannabis research firm Brightfield Group. The Chamber’s footprint in the cannabis industry will be the embodiment of Black business equity in the cannabis space.”
We’re at the beginning of this journey and there’s a lot more to come. Feel free to follow up with us if you would like more information or assistance in navigating through your entry into the booming cannabis industry & the ILBCC’s Global Cannabis Investment Fund.
Great things are on the horizon for Black businesses and communities so stay tuned and stay engaged! Please know that the Chamber is here for YOU! We want you to plug in and begin your journey of personal and professional growth and development too. That’s very important to us! Get a bird’s eye view of what’s important to the Black business community by texting ILBCC to 22828 for a free subscription to our Black Business News Journal. For more information on the Illinois Black Chamber of Commerce visit www.ILBCC.org