San Bernardino, CA – Whitney Economics LLP has released its revenue and job forecast for San Bernardino should Measure O win at the ballot this November.
The report shows that Measure O will generate between $19,500,000 and $24,800,000 in revenue for San Bernardino’s general fund in addition to 2,750 jobs.
“Measure O will reduce the significant unemployment rate and establish and regulate businesses that would normally support the illicit market,” notes the forecast author and Professor of Economics Beau Whitney. “Measure O makes good economic sense for the citizens of San Bernardino.”
Measure O Regulates, Taxes and Enforces New Rules
Measure O is the first comprehensive, municipal ballot initiative that builds on California’s recent Medical Marijuana Regulation and Safety Act. Measure O addresses citizen concerns for public safety, nuisance and safe access by restricting the location of marijuana businesses. Measure O moves businesses away from schools and homes and regulates security concerns and much more. Measure O will generate revenue for San Bernardino’s general fund by charging businesses based on their square footage. In addition, the city will generate tax revenue from utility and other fees.
This forecast notes how San Bernardino is uniquely located and equipped to prosper with California’s growing medical marijuana industry. “San Bernardino is already considered a central location in southern California for this growing market. The juncture of major interstate highways, easy access to air freight at local airports and San Bernardino’s success as a logistics and warehousing industry center make it a highly desirable location.”
“The effort to shut [dispensaries] down has been unsuccessful,” said San Bernardino Mayor Carey Davis. “We need to re-strategize our approach.” Rather than encouraging an illegal black market to profit, cities like San Diego, Palm Springs and San Jose have seized the opportunity to license and regulate the market. Measure O will generate new revenue from a variety of regulated businesses, including medical marijuana dispensaries. This will pay for law enforcement and contribute to the overall city budget. This ballot initiative incorporates the best practices of successful cities across California and will deliver similar results.
About Whitney Economics
Prior to founding Whitney Economics, Beau Whitney spent 15 years as a business analyst in the high tech industry, honing the ability to analyze a business and make strategic and tactical decisions for fast-paced, high-growth industries. Beau has a BA in mathematics from Macalester College and an MBA from Thunderbird School of Global Management. Beau is also a professor of economics and a member of both the American Economic Association (AEA) and the national Association of Business Economics (NABE) and is the Portland chapter president of the NABE.
About Measure O
Measure O, the San Bernardino Regulate Marijuana Act of 2016 (SBRMA), is a citizen-backed initiative that will bring comprehensive and rational reform to medical marijuana laws in the city and projects $19-24 million in new revenue and 2,750 living wage jobs. This projected revenue will deliver an economic windfall to the City of San Bernardino through new revenue to support public safety and enforcement. To achieve this, SBRMA will end the current ineffective ban, eliminate illegal marijuana businesses and offer licensing for well-regulated businesses located far from schools and homes. SBRMA will be on the ballot on November 8, 2016. Learn more at www.sbrma2016.com.