The National Canna Industry Association (NCIA) is a nonprofit trade association representing nearly 2,000 member-businesses and tens-of-thousands of canna professionals who are “working together to end prohibition and expand opportunities within the legal canna industry.”
Formerly the "Seed to Sale Show", #NECannaBizCon is a two-day event taking place February 19-20 and featuring over 150 exhibitors and more than 100 speakers, including entrepreneur Derreck Kayongo, Kate Senzamamici from BDS Analytics, Andrew Kline from NCIA, Sarah Gersten from Last Prisoner Project, as well as dozens of prominent canna industry experts and innovators, NCIA members, policymakers, entrepreneurs and service providers.
This year's agenda is regionally focused and features emerging East Coast-focused discussion on regulations, market trends, and advocacy efforts. In addition to regulations and business services, there is a seed to sale track that is covering the topic of artificial intelligence and its role in extraction, as well as the future of packaging, and conversation on safety and sustainability in cultivation.
Additional noteworthy topics include: “Compliance is Critical: How to Avoid a Costly Mistake”, “Interstate Commerce: Environmental, Economic, and Social Equity Implications”, “Social Equity Strategies: What You Need To Know For Winning Applications and Successful Operations That Promote Diversity and Inclusion”.
Also at this year's event, CannaVest will host a trade association investment forum that will provide an in-depth look into the industry, while offering attendees insight into how to evaluate investment returns and “investment returns uncorrelated with the equity markets”.
Massachusetts Market Growth
Massachusetts is home to one of the fastest-growing markets. On November 8th, 2016 Massachusetts voters legalized recreational use, and 2 years later on November 20th 2018 the first two recreational stores opened their doors. Massachusetts became the first state to open adult-use retailers on the East Coast. During the first week, sales totaled more than $2.2 million between the two locations. Since then, 33 retailers total have opened statewide. Between November 20, 2018 and January 20, 2019, licensees have generated $393.7 million in gross sales. In addition to the operational retail stores, 53 retailers have provisional licenses, and another 166 retailers have applications pending. By 2021, adult-use sales in Massachusetts could eclipse $1 billion.