As Californians prepare to vote on a cannabis legalization initiative, bullish predictions mount of an imminent windfall. The state capital region alone could reap 20,000 jobs and generate $4.2 billion in business if it becomes a hub for a legal cannabis industry, according to a new study by the University of the Pacific in Stockton. Reuters reports Oct. 17 that the study was commissioned by cannabis investment firm Truth Enterprises. "The Sacramento region should be to cannabis what Detroit is to automobiles in terms of both a center of innovation as well as production," said Truth Enterprises partner Daniel Conway. "This region has the ability to be to cannabis what Sonoma and Napa are to wine." Conway is certainly confident. He just left his job as chief of staff to Sacramento mayor (and former NBA star) Kevin Johnson to pursue his future in the cannabis sector.
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