Canadian cannabis investment firm Slang Worldwide will significantly expand operations in Colorado, fueled by the state’s first tax incentive offered to a marijuana company.
Governor Jared Polis, the Colorado Office of Economic Development and International Trade and Slang issued a joint announcement December 14, reporting that Slang will add 43 new jobs to its Colorado outpost, thanks in part to $584,399 in state job-growth incentive tax credits over the next eight years. In order to receive the full tax credit, Slang must create all 43 jobs at an average yearly salary of $75,000.
Colorado beat California and Oregon as the location for Slang’s newest expansion, according to Polis’s office.
“Colorado continues to be the epicenter of the growing cannabis industry, so we’re excited by the company’s smart decision to relocate and create jobs in our beautiful state. Colorado’s cannabis industry offers strong growth potential, and this move speaks volumes about our state’s cannabis industry and community as a whole,” Polis says in a statement.
Colorado’s marijuana business regulations, state taxes and lawmakers drove Slang’s decision to put more resources in the Rocky Mountains instead of other legal pot markets, according to CEO Chris Driessen.
“The regulations aren’t nearly as conducive to business [in California] as they are here,” he explains. “When you look at…