Cashing in on cannabis
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowResults of a new survey conducted by Indiana Public Broadcasting and Ball State University’s Bowen Center for Public Affairs show a vast majority of Hoosiers believe marijuana should be legal in some form. The founder and chief executive officer of Carmel-based 3CHI could not agree more. Justin Journay’s company produces a variety of cannabidiol (CBD) oil-based products, ranging from candy to vape cartridges, derived from hemp.
In an interview with Around INdiana Business reporter Mary-Rachel Redman, Journay said Indiana’s CBD laws have helped his company succeed, but he believes the Indiana legislature could do more to grow the industry.
“We had an economic study done…and the market here in Indiana is $2 billion. People are listening at the statehouse, and I really hope that something comes to fruition out of that because Indiana is in a position where they could really dominate the cannabis space overall,” said Journay.
The 2022 Hoosier Survey is conducted on behalf of Indiana Public Broadcasting and the Bowen Center and helps collect a statewide reading of the most pressing issues facing Indiana residents. It is intended to “provide policymakers with a measure of public opinion on current issues facing the state and nation.”
The survey shows more than 85% of respondents say that marijuana should be legal in some form, while only 15% saying it should be illegal. Twenty-nine percent said marijuana use should be limited for medicinal purposes.
During Organization Day last month, which is held to plan the upcoming lawmaking session, legislative leaders told Network Indiana that there could be some movement on decriminalizing some sort of marijuana use in Indiana.
“You know, everybody says, Colorado, California, they expect those guys to be the leaders. Right now, they are. But you know it’s amazing what just good policy could do if it were implemented. Indiana could be a real major player on the world scene,” said Journay.
Journay relocated his company from Ohio to Indiana in 2018. He says the state had clear regulations on growing hemp and producing CBD from the plant.
“Indiana was the first state to really lay out the laws that really defined how to do things properly. And so we said okay, well that’s where we need to be because they were at the forefront,” said Journey.
3CHI products are made from Delta 8 THC, a less intoxicating variant than Delta 9 THC, which is the active component in marijuana. The 3CHI founder believes the many forms of cannabis, used responsibly, can naturally benefit users.
“A lot of people just pull from that reefer madness rhetoric that’s been just instilled in them and they don’t really know necessarily what they’re saying,” said Journay who encourages naysayers to do their homework. “Just being open to receiving the education and being open to changing their opinion is really something that we hope that a lot more people are willing to do.”