Colorado Governor Jared Polis announced the official launch of the Cannabis Business Office (CBO), which will manage multiple aspects of business owner support and social equity in the industry.
Governor Polis said in a statement on July 28 that the new office will help improve the state’s already thriving cannabis industry. “The Cannabis Business Office shows our administration’s focus on growing this thriving industry that supports jobs and our economy,” Governor Polis said. “Where the federal government has fallen behind, Colorado will lead. Colorado is, and always has been, the best place to live, work, grow and sell cannabis.” The CBO will lie under the umbrella of the Colorado Office of Economic Development and Trade.
The passing of Senate Bill 21-111 during the 2021 legislative session in March 2021 is what made the CBO a reality. The bill explains that although the state’s industry is a “$2 billion, $200 million dollar economic engine,” one that has created over 40,000 jobs, very few of cannabis business owners in the state have past cannabis convictions. “The state is at a critical juncture where it must act to ensure Colorado remains a leader in the marijuana industry and ensure equal opportunity for all Coloradans to