Businesses hesitant on marijuana sales
Yk chamber looking to lobby city, territorial government for
clear rules and regulations
Jessica Davey-Quantick
Northern News Services
Friday, April 21, 2017
SOMBA K'E/YELLOWKNIFE
Legal marijuana could be on the Canadian market no later than next summer, but Yellowknife businesses aren't gearing to toke up just yet.
"It's something we'd have to look at," said Edward Eggenberger, who manages both Yellowknife liquor stores.
Back in October, Shoppers Drug Mart formally applied to be a distributor of medical marijuana, although Yellowknife's Shoppers Drug Mart could not be reached for comment. Representatives of Sutherland's Drugs Ltd. also declined to comment on the issue and The Medicine Shoppe Pharmacy owner Ian Wasserman said he is still thinking it over.
"I'd have to look at a lot of different variables before I could even consider it. So I'm just kind of seeing how things play out with that and kind of go from there," he said.
Yellowknife Chamber of Commerce executive director Deneen Everett, on the other hand, sees the economic potential of legal marijuana.
"There's a lot of money to be made," she said. "Yellowknife and the Northwest Territories needs to be in a position to take advantage of that."
How much money is up for debate. A CIBC World Markets Inc. report from January 2016 estimates federal and provincial governments could see as much as $5 billion annually from taxes on legal pot sales. The office of the Parliamentary Budget Officer offered more modest revenue estimates of between $356 million and $959 million, as it predicts taxation could divert consumers to black market weed.
Everett said marijuana sales could help fill gaps left in the Yellowknife economy by playing a role in economic diversification.
"It's definitely not going to be the solution to all of our problems, but it's an important piece of the puzzle," she said, suggesting revenue could help address infrastructure deficits, a chief complaint about doing business in the NWT.
The Cannabis Act also includes a provision for personal cultivation of plants - every household will be allowed a total of four.
Carine Pattin, owner of Arctic Farmer Nursery, said she has no plans as of yet to sell marijuana plants or seeds for home cultivation but has given the idea some thought.
"I'm not saying it's a good idea or it's a bad idea, or it would be profitable or it wouldn't. We just talked about it," she said. "I'm not saying yes, I'm not saying no."
She's not concerned about clientele however.
"There are so many people that smoke it already, and most times you don't even know," she said.
Everett said the issue is on the agenda for the May 23 meeting of the chamber's board of directors and the chamber will be pushing for clear and easy to understand regulations from the city and the GNWT.
City administrator Sheila Bassi-Kellett said the city isn't necessarily envisioning dispensaries up and down Franklin Avenue at this point.
"We need to really do our homework on this and make sure that we've got things right," she said. "Because you could say, 'Hey bring brothels, bring casinos, hey they're great money makers.' And conceivably yeah you're right, but we want to make sure we go in eyes wide open."
