Medicinal Cannabis venture not proceeding after thorough assessment

Published on 20 June 2023

At tonight’s Council meeting, it was decided not to proceed with the proposed Medicinal Cannabis venture after conducting a feasibility and risk assessment process.

The idea to set up a business to cultivate, produce and manufacture medicinal cannabis was proposed in a Notice of Motion in September 2021.

Following the Notice of Motion, we asked our community if they would support Council entering the medicinal cannabis business, to which 74% of the 600 respondents said ‘yes’. Based on this, Council voted to undertake a feasibility study to explore the opportunity to establish a medicinal cannabis enterprise as a means of reducing the rates burden on its community.

The findings of the assessment revealed challenges and risks associated with the industry, outweighing the potential benefits for our residents.

Ultimately, it was concluded that the potential risks associated with these options outweighed any community benefits.

“While the Medicinal Cannabis industry in Australia has experienced rapid growth since its legalisation in 2016, it faces numerous obstacles, including strict regulations, technical expertise requirements, and capital intensity,” Mayor, Cr Sarah Carter said.

“After careful consideration, it is evident that the challenges and risks involved with this type of venture outweighed the potential benefits for our community. In saying that, we remain dedicated to seeking alternative opportunities to reduce the rates burden on our community,” Mayor Carter said.

Maribyrnong News

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