Asheville’s CBD Landscape Evolving Amid Federal Changes

News Summary

Asheville’s CBD industry is on the brink of transformation as federal discussions on marijuana reclassification unfold. With potential shifts in regulations, local businesses anticipate changes in operations and opportunities. Entrepreneurs like Stonewall Harrison and Jimmy Gallagher are exploring new ventures while addressing community needs and health benefits of CBD. Despite challenges such as break-ins and legal concerns, Asheville’s CBD scene shows resilience and potential for growth with anticipated changes in federal policies.

Asheville’s CBD Landscape Evolving with Potential Federal Changes

Asheville is buzzing with new developments in the world of cannabis and CBD, especially with the recent talk about the reclassification of marijuana at the federal level. The U.S. Drug Enforcement Administration (DEA) is giving serious thought to moving marijuana from its current designation as a Schedule I narcotic. Currently, this places it in the same league as drugs like LSD and heroin—hardly a fun crowd to be associated with!

The conversation doesn’t stop there. President Joe Biden has put the wheels in motion for a review of marijuana’s classification through the Department of Health and Human Services and the Attorney General. If marijuana makes the leap to Schedule III, it would join the ranks of drugs like ketamine and certain anabolic steroids. This could signal a significant shift in how marijuana is perceived, particularly when it comes to medicinal use.

A Local Perspective on Reclassification

Stonewall Harrison, the general manager of Mary Jane’s CBD Dispensary in Asheville, is keenly aware of these potential changes. After spending over 14 years immersed in the world of hemp, he understands the complexities of cannabis regulation. If there is reclassification, one big change could be the conversion of local CBD shops into marijuana dispensaries, which comes with its own set of restrictions, including limiting the sale of tobacco products.

Harrison sees a silver lining in reclassification, especially for medical cannabis. He highlights how cannabis can provide a better lifestyle for individuals transitioning away from opioids. With the first medical cannabis dispensary opening in Cherokee, North Carolina, the tide is turning in the state despite remaining controversial among law enforcement.

New Ventures on the Horizon

In Asheville, business owners are not just sitting on their hands. One local entrepreneur, Jimmy Gallagher, is expanding his CBD concept into Chattanooga, TN. He’s making a keen investment of around $300,000 into a new store that will span 3,100 square feet. This new venture will feature a retail section for CBD products and even an herbal beverage bar and lounge, a unique twist that’s sure to draw in curious customers.

The global CBD market is bigger than ever, valued at an astounding $6.4 billion in 2022, with projections suggesting a growth rate of 16.2% annually through 2030. This surge is driven by an increasing public interest in the health benefits of CBD products.

Gallagher’s new store will offer a variety of intriguing nonalcoholic beverages marketed as “mertinis” and “mergaritas.” These drinks will be packed with organic and health-focused ingredients—perfect for those looking for a refreshing yet mindful option!

Catching Up With the Competition

Despite some worries about the future of the market and ongoing legal battles, local CBD businesses are finding a silver lining in the increase of shops—indicating a strong consumer demand. However, not everything is smooth sailing. The area has recently experienced a wave of break-ins targeting CBD stores, with Clover CBD among those hit. This highlights some of the security concerns that businesses in this burgeoning industry face.

Looking Forward

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Additional Resources

• WLOS: Franny’s Farmacy
• AVL Today: Alcohol-Free & Sober Asheville
• WLOS: Marijuana Reclassification Reaction
• Wikipedia: Legal status of cannabis
• Google Search: CBD market growth