What marijuana’s schedule III reclassification means for Lynchburg and SWVA – WDBJ7
LYNCHBURG, Va. (WDBJ) – President Donald Trump is reclassifying marijuana as a schedule three drug, a move supporters say could change how the cannabis industry operates nationwide.
But what does that actually mean for our hometowns and what doesn’t it change?
If you’ve noticed more conversations about marijuana lately, there’s a reason, and it affects our community here in Lynchburg and across Southwest Virginia.
Local universities are already responding. The University of Lynchburg offers five new cannabis career certificates, focused on workforce development.
President Trump reclassifying cannabis as a schedule three drug has potentially big changes for the industry for education and local businesses.
“It’s sending a very loud signal to the world that this cannabis substance is safer and more medically accepted than we once thought it was,” said Max Simon, CEO, of Green Flower.
Schedule three doesn’t mean federal legalization.
“It means people can still get in trouble for consuming cannabis on federal land, drug testing will still be an area to navigate,” said Simon.
But it does bring major changes for businesses, especially around taxes.
“Any cannabis business will now have more money to invest in their people, more money to grow their operations, more money to increase accessibility, more money to serve the community,” said Simon.
That’s because rescheduling removes a federal tax rule known as 280E, which prevented cannabis businesses from writing off normal expenses.
Simon says that money now stays local, and it opens the door for more research and education.
Trumps order also sends a signal to doctors to feel more comfortable getting educated on its medicinal qualities.
But, not everyone supports the change.
Lynchburg Mayor Larry Taylor tells WDBJ7 anything that makes marijuana more acceptable is not a good thing for the community.
And Roanoke College, Virginia’s first college to offer four-year degrees in Cannabis Studies, tells us their program is doing well and thriving.
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