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Does a Legal “High” Lead to Higher Rents? An Estimation of the Effects of Cultivation Laws on Colorado Industrial Property Values

Fetick, Jack Edward
http://orcid.org/0000-0002-6540-786X
http://rave.ohiolink.edu/etdc/view?acc_num=miami1532786903670889

Abstract Details

2018, Master of Arts, Miami University, Economics.
This paper analyzes the effect of a change in the legal status of cannabis cultivation on the value of industrial space. An often-cited positive impact of legalization is the increase in tax revenue to the state, yet an increase in demand for warehouse-like spaces may crowd out other industries. An initial estimation analyzes how different characteristics of Colorado counties affect ballot choices. The results indicate areas that supported Barack Obama in 2012 were 26-37 percent more likely to support legalized cannabis. I then estimate the effect of municipalities exercising a “local option” to ban cannabis production on the values of industrial spaces. The natural variation of the local option across the state is used to compare industrial space values across treated areas using a difference-in-differences design. Using data from real estate listing website LoopNet, this paper estimates a slightly higher difference in the value of industrial space in areas with legal cultivation status.
Melissa Thomasson, Dr. (Advisor)
Analisa Packham, Dr. (Committee Member)
Austin Smith, Dr. (Committee Member)
19 p.
Economics
Cannabis; cultivation; local option; legalization

Recommended Citations

Citations

  • Fetick, J. E. (2018). Does a Legal “High” Lead to Higher Rents? An Estimation of the Effects of Cultivation Laws on Colorado Industrial Property Values [Master's thesis, Miami University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=miami1532786903670889

    APA Style (7th edition)

  • Fetick, Jack. Does a Legal “High” Lead to Higher Rents? An Estimation of the Effects of Cultivation Laws on Colorado Industrial Property Values. 2018. Miami University, Master's thesis. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=miami1532786903670889.

    MLA Style (8th edition)

  • Fetick, Jack. "Does a Legal “High” Lead to Higher Rents? An Estimation of the Effects of Cultivation Laws on Colorado Industrial Property Values." Master's thesis, Miami University, 2018. http://rave.ohiolink.edu/etdc/view?acc_num=miami1532786903670889

    Chicago Manual of Style (17th edition)

miami1532786903670889
327
© 2018, all rights reserved.
This open access ETD is published by Miami University and OhioLINK.