Los Angeles, Ca
Marijuana growth sparked hundreds of millions in value for this Southern California county
While most of the state isn’t so lucky, there’s one Southern California county that is riding a high on legal cannabis production, according to a recent report.
Santa Barbara County released its crop report this week, and it showed that more than 9 million pounds of the plant was grown in the county in 2023 — which is worth more than $328 million. According to SFGate, the total weight of cannabis production was up 45% from 2022.
The only crop more valuable in Santa Barbara County in 2023 were strawberries.
The figures come as the legal recreational marijuana industry has struggled in the state in recent years. Reasons for the tough figures include high taxes and regulation, according to industry executives, resulting in lower prices through illegal marijuana sales.
Culver City-based MadMen recently reshuffled its executives after its stock plummeted toward $0 per share.
The numbers out of Santa Barbara County, however, may be reason for optimism for those in the industry. According to the county, a stronger-than-typical rain season contributed to the boom in production.
Recreational marijuana was legalized in California after voters approved proposition 64 in the November 2016 general election.
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