Baldwin Park Rolling In Cannabis Related Revenue

BALDWIN PARK, CA — The city of Baldwin Park has taken a progressive approach toward cannabis related businesses and is already seeing the benefits of doing so, according to a recent release. The city finance department reported earnings of almost $950,000 in cannabis-related revenue since permitting began in 2016. Reports indicate that the city expects to receive about $3.3 million in additional revenue annually.

Mayor Manuel Lozano recently acknowledged that the new revenue stream is working well for Baldwin Park.

"Legalizing and regulating cannabis will generate over $3 million in new revenue for Baldwin Park," Lozano said. "Cannabis revenue will fund everything from public works projects to modernized city services to fighting homelessness. While it might not fix every street sign or help every resident who needs it, it is having a significant and positive impact on our community."

The funds raised from cannabis were excluded from the 2017-18 city budget of $27.8 million. Adding the additional revenue will help to improve a wide range of programs and services to the community.

"We will continue to distribute these funds responsibly and not lose sight of what voters intended when they opted to regulate and tax cannabis statewide," Lozano said.

An infographic created to describe the process shows that the regulation of cannabis will continue to create significant growth in good paying jobs in the area. It will help fund public works projects, staff the police department, and serve the neediest in Baldwin Park's population.

In November of 2016, voters initially passed Proposition 64 for the legalization, use and cultivation of recreational cannabis. Over the past year, the city has held many study sessions, presentations and workshops on the matter. By December of 2017, 10 businesses were granted permission to cultivate, manufacture and distribute cannabis in the city. That growth adds to the foreseen $3.3 million in revenue the city expects to enjoy.

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