Ohio investors have raised over $36 million in an attempt to fund ResponsibleOhio, a platform for marijuana investors.
There are currently several proposals in the works for the legalisation of marijuana in Ohio. ResponsibleOhio aims to establish a legal marijuana industry that is operated over 10 grow sites. The sites themselves would be monitored by investor groups. One of the investors is basketball All-Star Oscar Robertson. There is also Nanette Lepore who is a fashion designer from Youngstown and Frostee Rucker, a former Brown’s player.
ResponsibleOhio has estimated that the industry could reach $2 billion over a four-year period, and that $554 million of this would be in tax revenue for local governments. Part of the profits would also go toward the research of marijuana for drug treatment programs.
ResponsibleOhio had its first proposal rejected by General Mike DeWine because two sections of the proposal did not reflect the text of the amendment. The group then made the amendments and resubmitted the revised document on Tuesday, as to DeWine’s request. The revised version would allow people from Ohio to possess four flowering plants for their own personal use, in an attempt to regulate the substance.
If this movement gets DeWine’s approval, then ResponsibleOhio will need to gather around 305,591 signatures from Ohio residents if they want to put the issue on the ballot for November. These votes will need to be collected by June 1st.