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Business is booming in the Rocky Mountain State, and experts say much of the growth is related to agriculture, though not in cultivating a traditional plant. Instead, Colorado’s new gold rush can be traced to the state’s recent legalization of pot. Since legalizing marijuana in 2014, Colorado has added 10,000 jobs and the state is enjoying one of the nation’s lowest unemployment rates--at 6 percent. The new industry has also added $3.5 million in revenue to state coffers. From businesses selling the best smoking pipes in Denver, Colorado to agents selling real estate in the suburbs, here are some of the booming industries cultivating profits. Agriculture Technology Cultivating plants in sometimes arid parts of the Rocky Mountains isn’t the easiest of tasks, but there’s lots of available land there, and one cash crop that can survive some of Colorado’s harshest climates--marijuana. Figuring out how to best grow and how to engineer plants to make the most of them means entrepreneurs, scientists, and yes, farmers are forming partnerships to ensure Colorado’s newest cash crop continues to draw cash and not just smoke. Real Estate While marijuana can be grown on large swaths of farm land, it can also be cultivated in small batches indoors. Real estate marketers, buyers and sellers have taken note. There are now agents in Colorado specializing in selling properties ripe for cultivating recreational marijuana. Travel Though Colorado’s tourism industry has been slow to embrace recreational pot, travelers have been quick to book trips to the Rocky Mountain State. According to the Colorado Tourism Office, approximately 49 percent of the people who visited Colorado last summer visited in part, due to the state’s legalization of marijuana. Though the state itself isn’t marketing pot, tourism businesses like tour operators, retailers, and bed and breakfasts are cashing in by crafting entire trips around the booming recreational marijuana industry. Security Protecting a cash crop requires resources. Security companies designed to protect growers and dispensaries are cropping up frequently in Colorado. With more than 12 pages of rules regulating marijuana security measures, there are now teams of security firms and experts selling their services to the industry. Colorado bucked national trends when it decided to become the first state to cash in on recreational marijuana, and a variety of industries are benefiting from the decision including the retailers of the best smoking pipes in Denver, Colorado and agents selling properties perfect for cultivating Colorado’s newest cash crop.
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