Portland Mayoral Candidate Ted Wheeler on Developing Fair Cannabis Industry Banking Policy

Solid statements on the future of the cannabis industry in Portland and beyond.

Ted Wheeler, Portland Mayoral candidate, shared his thoughts on cannabis Tuesday. Photo: CRRH Video

(PORTLAND, Ore.) - TED WHEELER: There's a number of ways that the Mayor of Portland could lead in Cannabis Policy.

First of all, let's acknowledge that this is a legal and regulated industry. Some of the issues I'd like to see resolved include banking.

Right now, the cannabis industry does not have access to a legal banking framework. That means it's a high volume cash industry. That creates some public safety issues.

It certainly makes it more difficult for the industry to be regulated the way people expect the industry to be regulated and frankly it makes it a very difficult proposition for those in the cannabis industry whether they're growers or whether they're suppliers or whether they're at the retail level.

Second of all, I believe that the mayor and the city should be working more closely with regional partners and state officials particularly with those at the Oregon Liquor Control Commission (OLCC) making sure that were not duplicating rules and regulations, making sure that were not putting undue expectations on the industry or undue costs by duplicating licensing fees, and just treat this industry with the same respect as any other legal and regulated industry in our state.

Finally, I'll say this, I think we need to start acknowledging that this is an industry with tremendous opportunity to help employ Portlanders and Oregonians at large. And, in a state that's concerned about job growth and concerned about real wage growth, this should be seen as the opportunity that it is to help grow our economy. [END]

WATCH THE VIDEO BELOW:

Sources: Cannabis Round-table with Ted Wheeler, Tabor Space, Portland, Oregon 9/22/15; Footage: Campaign for the Restoration and Regulation of Hemp (CRRH) http://hemp.org

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