We had a great time in Oakland last week for NCIA’s 3rd Annual Cannabis Business Summit & Expo. This year, the show moved to Oakland, allowing the industry to get a feel of what it will be like when California legalizes adult use.
Based on conversations we had with people at the show, we confirmed that California is very enthusiastic about a legal, regulated market and the opportunities it presents. As we have seen with each new state to legalize, technological advancements soon follow.
When business owners are confident in regulations that support cannabis businesses, they are more likely to invest in high-tech and efficient methods for their cultivation center. This works to help fuel a more efficient industry overall.
Our Director of Technology, Stephen Keen, was on a panel about “Methods and Design Strategies for Large Scale Commercial Operations” with Alex Cooley from Solstice, Christopher Wrenn from AEssence and Jennifer Martin from Buds and Roses Collective that highlighted the benefits that can come from the perceived safety net of legalization and regulation.
Some of the highlights from this standing room only session include:
- "Now, I get to talk about 5 and 10-year plans. So we get to speak differently about how we set up our buildings" - Alex Cooley of Solstice
- "Remodeling your facility is almost never an option...think about your budget and facility design first" - Stephen Keen
- "Dropping in prices of Cannabis demand efficient systems. You're going to hear that more & more as the industry grows" - Stephen Keen
- "If you build something that's right, you'll succeed a lot more quickly than building something for cheap" - Stephen Keen
Overall, the takeaway from this presentation was that when building a cultivation facility, it is important to plan for the future. Buildings will be set up differently if you plan for how they will be used in 5-10 years. This includes layout, materials used and equipment selection.
The cannabis industry is growing and with that will come increased competition and a need to reduce operating costs as much as possible. This can be done in a variety of ways, but some of the biggest impacts will come from choosing energy efficient equipment and thinking about workflow when designing a cultivation facility. So, think long-term and get the most out of your facility for the longest time possible.
To cap off the great week we spent in California, a ballot initiative to legalize adult use cannabis in California officially qualified for the ballot this week. California, here we (the legal cannabis industry, that is) come indeed. We can’t wait to see what the future holds for the California market.