As the new law on medical marijuana takes effect in Pennsylvania, the growing and dispensary operations that develop will bring new forms of revenue to the state. Alex Ficken of Rise Labs and Adrian King from Ballard Spahr were on hand at the Philadelphia Mastermind Group to discuss this emerging industry. Mr. Ficken addressed the similarities and differences between Pennsylvania and Nevada, where his company is headquartered, and some of the effects that may be seen by the commercial real estate industry.

Medical marijuana markets are slower to ramp up since there is less money flowing in than recreational markets. The state projects $750,000 income from medical patients. According to the discussion, the state of Pennsylvania has done a good job rolling out the industry’s permitting process in a very deliberate way. Growers permits are equal among regions though there are more in the Southeast where there is a higher population.