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Modeling estimates $984 million in Arkansas marijuana sales by 2027, tax gain of more than $260 million – Talk Business & Politics

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Modeling estimates 4 million in Arkansas marijuana sales by 2027, tax gain of more than 0 million – Talk Business & Politics


Arkansas voter approval in November of grownup use (leisure) marijuana may add $2.4 billion to the state’s financial system over 5 full years of implementation, and add as much as 6,400 jobs by 2027, based on modeling from the Arkansas Financial Improvement Institute (AEDI).

The AEDI, housed on the College of Arkansas at Little Rock (UALR), was commissioned by Accountable Development Arkansas (RGA) to conduct an financial modeling forecast of authorized marijuana gross sales in Arkansas over a five-year interval. RGA is the group that labored to get the proposed modification on the November common election poll.

If the difficulty is accepted by voters, it might amend the present regulation for medical marijuana and permit those that are a minimum of 21 to buy hashish from licensed dispensaries. Current medical marijuana dispensaries would obtain licenses to promote leisure use hashish on the dispensaries and procure licenses to determine leisure hashish dispensaries at one other location. Licenses additionally can be obtainable for extra dispensaries and hashish cultivation amenities.

Based on the proposed modification, adults may carry as much as 1 ounce of hashish and use and devour it. The regulation would restrict the variety of dispensaries and cultivation amenities to 120 and 12, respectively. Of the 120 dispensaries, 40 can be chosen by lottery. Implementation would start with the primary authorized gross sales of adult-use hashish by March 7, 2023, with the extra dispensary and cultivator licenses to be issued by July 5 and November 8, respectively. Voters accepted a constitutional modification in 2016 that legalized medical marijuana.

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MODELING
The AEDI modeling, led by Dr. Michael Pakko, chief economist and state financial forecaster on the UALR Institute for Financial Development, and AEDI Regional Economist Dr. Carlos Silva, used frequent modeling software program that traces “spending flows and monetary linkages between industries, households, and establishments.”

The modeling was adjusted primarily based on information from the state’s medical marijuana business. Modeling changes additionally included accounting information from a cultivator and dispensary that had been offered by RGA. Based on AEDI, focus areas embody gross sales progress, state gross home product (GDP) , employment, revenue, and the fiscal impression of taxes generated.

Modeling additionally used actual demand and gross sales information from states which have moved from medical use to grownup use. Based on AEDI, 37 states allow medical marijuana, and 19 have adopted legal guidelines permitting for grownup use.

GDP, JOB GROWTH ESTIMATES
“The impacts implied by the complete mannequin are substantial. Wanting on the measurable impacts, we see that complete employment is predicted to extend by almost 5,000 jobs in 2023, reaching as excessive as 6,400 by 2027. The contribution to GDP is estimated to rise from $370 million to just about $543 million over the five-year interval, with a cumulative complete impression of almost $2.4 billion,” famous the report posted Wednesday (Sept. 28).

Following is a abstract of key findings from the AEDI modeling.
• The mixed gross sales of medical and adult-use marijuana will greater than double within the first 12 months after adult-use implementation, with complete gross sales rising from roughly $665.6 million in 2023 to $984 million by 2027.
• There may be an estimated improve in state GDP of $2.36 billion over the five-year research interval.
• Will increase in employment vary from 4,900 jobs in 2023 to six,400 jobs in 2027.
• Excluding financial exercise “diverted from illicit markets” the GDP progress is revised all the way down to $1.89 billion over the 5 years, with job progress of 5,200 by 2027.
• State gross sales tax receipts are estimated at $163.1 million, plus a further $303.6 million from the proposed 10% supplemental gross sales tax on adult-use hashish, representing a rise of $286.5 million in state gross sales tax income relative to the medical-only baseline situation.
• Private revenue tax collections would improve by $30.8 million relative to the baseline.
• County and municipal tax collections may complete $92.6 million, representing a rise of $50.3 million over the baseline.
• Of the $303.6 million in state income generated by the supplemental gross sales tax, earmarked transfers over the five-year interval embody: The availability of $45.5 million for annual stipends to regulation enforcement officers; Funding for UAMS totaling $30.4 million; and Help for drug courts of $15.2 million
• The report additionally estimates $162 million in new building spending, with $32 million for 80 new retail shops

TOURISM BOOST, PREVIOUS ESTIMATES
The Pure State may also have a brand new which means, based on the AEDI report, which suggests tourism will probably be a giant a part of the general financial impression.

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“A lot of the potential financial impression derives from purchases by out-of-state customers, notably new vacationers who’re drawn to trip in Arkansas particularly due to the provision of adult-use hashish. Discounting this supply of demand to zero defines a low-impact situation that gives a decrease sure on our financial impression estimates. Even with this adjustment, financial and monetary impacts stay important, together with a five-year improve in GDP of $1.66 billion and gross sales tax receipts which are $240 million above the baseline simulation,” famous the AEDI report.

Pakko and Silva additionally remind a report reader about how medical marijuana gross sales far surpassed preliminary estimates. Based on a 2016 report from

The Division of Finance and Administration (DFA) estimated in 2016 that complete annual gross sales may rise to $38 million a 12 months however would possibly take two years to achieve that quantity. The primary full fiscal 12 months (FY 2020) of medical marijuana gross sales topped $89 million, and gross sales topped $250 million within the second fiscal 12 months.



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Arkansas

2025 Small Works on Paper tour opens Monday at UALR | Arkansas Democrat Gazette

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2025 Small Works on Paper tour opens Monday at UALR | Arkansas Democrat Gazette


The Arkansas Arts Council’s 2025 Small Works on Paper touring exhibition debuts Monday and remains on display through Feb. 16 at the University of Arkansas at Little Rock’s Windgate Center of Art + Design, 2801 S. University Ave., Little Rock.

A reception, 5-7 p.m. Jan. 30, will feature presentations by the 35 Arkansas artists whose 40 pieces, no larger than 18-by-24 inches, are part of the exhibition. Refreshments will be served.

Admission to the reception and the gallery is free. Gallery hours are 9 a.m.-5 p.m. Tuesday-Friday, 10 a.m.-1 p.m. Saturday, 2-5 p.m. Sunday.

The visual art exhibition is in its 38th year, spotlighting Arkansas artists who are members of the Arkansas Artist Registry, an online gallery maintained by the Arkansas Arts Council. Most works will be available for sale with all proceeds benefiting the artists. The exhibition will tour nine venues statewide.

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This year’s juror, New Jersey-based artist Mario A. Robinson, reviewed more than 200 entries and chose the work of three artists — Jennifer Barnett and Derek Slagle, both of Little Rock, and Richard Stephens of Hot Springs — for purchase awards that will become part of the Small Works on Paper permanent collection. The artists receive cash awards that are equivalent to the value of their artwork.

    “Weird Weather,” acrylic painting by Susan Chambers of Little Rock; “Good Days,” acrylic on newspaper by Alexia Lams of Pine Bluff; “Offerings,” watercolor and thread on paper by Rhaelene Lowther of Magnolia; “Hillside Hives,” pastel and graphite on brown paper by David Mudrinich of Russellville; and “The Old Neighborhood,” pastel by Dennis McCann of Maumelle, are part of the Arkansas Arts Council’s 2025 Small Works on Paper touring exhibition, debuting Monday and on display through Feb. 16 at the University of Arkansas at Little Rock’s Windgate Center of Art + Design. (Special to the Democrat-Gazette)
 
 

The exhibition will be on display:

◼️ March 3-26 at the River Valley Arts Center, 1001 E. St., Russellville (rivervalleyartscenter.org)

◼️ April 3-30 at the Walton Arts Center’s Community Creative Center, 505 W. Spring St., Fayetteville (communitycreativecenter.org)

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◼️ May 5-28 at the Ouachita Center, University of Arkansas Rich Mountain, 1100 College Drive, Mena (uarichmountain.edu/index.html)

◼️ June 6-28 at the Arts & Science Center for Southeast Arkansas, 701 S. Main St., Pine Bluff (artx3.org/home)

◼️ July 11-Aug. 22 at the Delta Cultural Center, 141 Cherry St., Helena (arkansasheritage.com/delta-cultural-center)

◼️ Sept. 4-29 at Southern Arkansas University’s Brinson Art Gallery, 100 E. University St., Magnolia (saumag.edu)

◼️ Oct. 6-28 at the Glassblock Gallery, Taylor Library, University of Arkansas at Monticello, 346 University Ave., Monticello (uamont.edu)

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◼️ Nov. 4-22 at Harding University’s Stevens Art Center, 915 E. Market Ave., Searcy (harding.edu).

For more information, call (501) 324-9767, email at cheri.leffew@arkansas.gov or visit ArkansasArts.org.



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DoorDash activates severe weather protocol, suspending service in parts of Arkansas

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DoorDash activates severe weather protocol, suspending service in parts of Arkansas


LITTLE ROCK, Ark. – Due to the ongoing winter storm sweeping through the Natural State, DoorDash has activated its Severe Weather Protocol and temporarily suspended operations in Little Rock and various parts of the Natural State.

According to a release Friday night, the precautionary measure comes as the winter storms deliver hazardous conditions across the city, including heavy snowfall and strong winds.

Cities with suspended operations include Little Rock, North Little Rock, Conway, Pine Bluff, Jacksonville, Cabot, Searcy, Malvern, Lonoke, Heber Springs, Star City, Clinton, Rison and Sheridan.

“With heavy snowfall and low visibility, the snowstorm is a serious threat to our community, and we’ve taken decisive action by activating our Severe Weather Protocol,” DoorDash spokesperson Julian Crowley said. “We deeply appreciate the patience and understanding of Dashers, merchants and consumers, and will resume operations as soon as it’s safe to do so.”

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Officials said they will continue to monitor conditions on the ground and will communicate additional changes to their operations as needed. 



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Knowing the Florida Gators Opponent: Arkansas Razorbacks

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Knowing the Florida Gators Opponent: Arkansas Razorbacks


Gainesville, Fla. – The Florida Gators men’s basketball team’s next destination is Fayetteville, Ark., as they’ll take on the Arkansas Razorbacks (11-4, 0-2) on Saturday for their third SEC matchup of the season. 

Florida is currently sitting at 14-1 on the season and 1-1 in conference play. They opened their SEC slate with a nail-biting loss to the Kentucky Wildcats, losing 106-100 in Lexington. 

However, the Gators were able to avenge this loss with one of the most dominant wins in men’s basketball history on Tuesday over No. 1 Tennessee. They trounced the Volunteers 73-43 in the O’Dome, marking the Gators’ first regular-season win over an AP No. 1-ranked team in program history and the biggest win over a No. 1-ranked team in the NCAA since 1968. 

But enough about what Florida has done this season, let’s shift the focus to their opponents, the Razorbacks, and see who they are. 

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Arkansas’ season started out nice with a win over Lipscomb. However, it wouldn’t be the same for them in their second game of the season against then-ranked No. 8 Baylor, as they found themselves on the losing end of a tightly contested battle. 

Then, following a good stretch for the team in red, they were tasked with the current No. 13 in the AP Poll, Illinois, and things wouldn’t go so well for new Razorbacks head coach John Calipari. His team was outclassed in this game 90-77, which ended their winning streak at four. 

Arkansas did make amends with their fans a few games later, though. While participating in the Jimmy V Classic, they matched up with then-ranked No. 14 Michigan, who they narrowed past 89-87. 

This win over the Wolverines helped maintain a three-game win streak that would eventually turn into a six-game streak. However, since SEC play started for the Razorbacks, they are 0-2 with losses to Tennessee and Ole Miss, who are currently ranked in the Top 25 AP Poll. 

These pair of losses put Arkansas at just a 1-4 record against teams on their schedule to have been ranked or that are currently ranked.

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While it was a complete roster overhaul for Calipari and the Razorbacks this offseason that was fueled by the transfer portal, their biggest grab has been from the high school ranks. 

They added highly ranked players like Johnell Davis, Adou Thiero and Jonas Aidoo all from the portal, but it’s former five-star guard Boogie Fland who’s been arguably the best player for the Razorbacks this season. 

Fland is averaging 15.5 points, 5.9 assists and 3.6 rebounds per game through 15 games this season. He is also connecting on 35.7 percent of his threes, which shows he’s more than just an inside scorer. Additionally, his 5.9 assists rank 24th among his competitors. 

But in these first two SEC games, Fland is just 10-for-35 from the field and 3-for-17 from deep. 

If the Gators can’t keep him in check like he’s been over these last two, then it might be a long afternoon for the visitors on Saturday. 

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Despite bringing in tons of talent that should’ve resulted in a great offense, Arkansas has been anything but that. 

They currently rank inside the bottom five teams in the SEC in scoring offense, averaging 79.4 points per game. They do have two players scoring at least 15.0 points per game, but that’s pretty much it. Outside of Thiero (16.9) and Fland, they only have one other player in double figures (DJ Wagner, 10.5). 

Moreover, if this becomes a free-throw-dominated affair, the Gators shouldn’t be too worried about the Razorbacks’ performance at the line. They are shooting 71.1 percent from the charity stripe, which is good for 12th in the league. 

And, lastly, they have little to no presence on the glass. They are the worst team in the SEC in offensive rebounding, and they are 13th out of 16 teams in overall rebounding. These are two areas where the Gators dominate, and if things play out like they have been this season, then the visitors should outmuscle their counterparts. 

This game will be televised on Saturday at 4 pm on ESPN. 

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