Why it matters: Historic flooding in Vermont has resulted in an unprecedented number of landslides, causing significant damage to businesses, particularly those in the cannabis industry. These businesses are unable to qualify for federal assistance due to cannabis’s status as illegal under federal law.
What they are saying: Cannabis businesses in Vermont have been denied federal assistance for flood damage because of federal laws prohibiting lending to cannabis dispensaries. Local trade organization Cannabis Retailers Association of Vermont and the Higher Calling festival are planning to raise funds to support flood victims in the industry.
The big picture: The flooding and landslides in Vermont have had a devastating impact on businesses, including cannabis dispensaries. The inability to access federal aid further exacerbates the challenges faced by these businesses.
What to watch: The efforts of the Cannabis Retailers Association of Vermont and the Higher Calling festival to raise funds for flood victims in the cannabis industry will be a key development to watch. Additionally, the long-term impact of the flooding on businesses and the state as a whole will be important to monitor.
My take: The lack of federal assistance for cannabis businesses affected by flooding highlights the ongoing challenges and disparities faced by the cannabis industry due to federal laws. It is encouraging to see local organizations stepping in to support these businesses during this difficult time. However, broader policy reforms are needed to ensure equitable treatment for cannabis businesses in the event of natural disasters or other emergencies.
