Marijuana legalization a potential revenue stream for Manitoba government

WINNIPEG — At a medicinal marijuana dispensary in downtown Winnipeg there are already plans for what will happen after legalization.

“Right here in these showcases, just like other Weeds dispensaries, this is where we’d have product, right here in these showcases,” said Mathew Monasterski, co-owner of Weeds, as he motioned towards his shop’s glass shelving and cash area.

The federal government is planning to unveil its marijuana legalization legislation on Thursday. After that, it’s still anticipated that it won’t be legalized until the summer of 2018.

RELATED: Manitoba eyes new tools to fight drug-impaired driving: minister

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Sign up for breaking National newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

But after that, the Manitoba government could be looking at another revenue stream as they try to whittle away a projected $840-million deficit.

In Colorado, a state that legalized marijuana four years ago, the industry was worth $1.3 billion last year, bringing in $200 million in tax revenue.

RELATED: Marijuana should be sold in separate stores with minimum age limit of 18: federal task force

“Taking it from that underground economy to something that is going to be taxed so that it can be used for additional revenue for government that go into education, infrastructure, things that are important to Manitobans, it’s good from that perspective,” said Chuck Davidson, president of the Manitoba Chambers of Commerce.

The private sector is also looking at the potential profits associated with legalization.

RELATED: Legal marijuana producers worried Ottawa may demand plain packaging

But Monasterski said the province should start consulting with businesses like his immediately so that the industry will be ready for whenever the federal government officially changes the legislation.

“This province has the potential to be steps ahead of every other province, electricity, wages, real estate, we’re ready to go,” he said.

Tweet This Click to share quote on Twitter: "This province has the potential to be steps ahead of every other province, electricity, wages, real estate, we're ready to go," he said.

However, Manitoba Liquor and Lotteries isn’t saying whether the sale and distribution of legalized pot will fall to the private sector, or be controlled by the province, much like alcohol.