Oklahoma economy rides high in marijuana boom, dubbed ‘Wild West of Weed’
FOX Business chief national correspondent Connell McShane visits the Twisted Roo dispensary in Oklahoma, where the family business touts light regulation and a low-cost environment.
Oklahoma: it’s flying high and rolling in green as the newly dubbed "Wild West of Weed."
The heavily Republican-concentrated state is gaining notoriety as the new epicenter for the marijuana industry, offering inexpensive licenses and booming medical demand to attract farmers and their families.
Light regulatory framework and the low-cost environment were the convincing factors for Josh Belvins, owner of Twisted Roo dispensary, to move his wife and three children to the Sooner state.
"Let's say we spent $150,000 to really get going, and then today, we've probably got about $3 million invested in everything that we've done," Belvins told FOX Business’ Connell McShane on Thursday. "In Colorado, if we would have done everything we've done here so far, we'd been $10, $20 million at this point."
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In Oklahoma, a grower’s license application fee is just $2,500, compared to hundreds of thousands of dollars in recreational states like California and Colorado.