Pot industry helping grow Trinidad’s economy
The economy of a southern Colorado community is growing thanks to cannabis. Since marijuana became legal, people in Trinidad say they’re seeing the town transform.
“There’s so much potential here for it to be a really big tourist town and that’s why we chose Trinidad,” said Brooke Elphic, PR with Faragosi Farms.
Right now, there are eight marijuana shops in Trinidad. That number is expected to double following a move by the City Council Tuesday night. Many are calling it a sign of economic growth.
Trinidad’s economy was once fueled by mining.
“Ever since those mines dwindled, the town kind needed something to boost the economy and this was the perfect industry for it,” said Calib Mcfeeters, assistant manager at M & M Distributing.
What was once rows of empty businesses are now turning into pot shops. M & M Distributing is one of eight in town.
Since the legalization of marijuana in Trinidad, M & M was the first grow to open working with local businesses to kick-start a growing economy.
“It went from a 60 percent unemployment rate to now more shops and jobs being offered,” said Mcfeeters.
The housing market can’t keep up.
“It’s impossible. I’ve been on every street in this city there’s no for rent signs anywhere,” said James Latona, Trinidad resident.
So far, cannabis has generated $800,000 for the small town.
“Why should we not capitalize on that newly developed industry for the benefit of our community,” said Anthony Mattie, a Trinidad City Council member.
City Council will allow 20 pot shops to operate, including the eight in existence. There are some worries.
“I don’t think all the dispensaries will survive. They’ll be happy they get the buildings fixed but when it comes down to it, how many are going to go under and you’ll have unemployment,” said Michael Reyes, head grower at M & M Distributing.
Mattie says he’s aware of the concerns but feels it’s a step in the right direction.
“We have roads that need to be repaired, we have issues that we don’t have the resources to do it, Marijuana does give us that tool,” said Mattie.
Business owners who applied for a license will have to file by may 1. It’ll be up to City Council to grant each license.
