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Chicago Partner David Standa Quoted on Difficulty in Determining Revenue Estimates From Illinois’ Recreational Marijuana Business

November 13, 2019

David Standa, a Partner in Locke Lord’s Cannabis Industry Group, weighed in on recent estimates of revenues from the recreational marijuana business in Illinois. Standa observed that Gov. JB Pritzker was "pretty aggressive" in his prediction of $170 million in income from dispensary licensing fees for the year. He noted that predicting revenue from the business is necessarily difficult, not least because states are attempting to add to budgets income from an industry that never previously existed.

Standa also identified a number of potential problems Illinois could face when forecasting revenue, particularly in the short term, commenting: "There is not necessarily a right or wrong. It is trying to budget for something that has never occurred before."

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