Bane or boon? Now that medical marijuana grow facilities are a reality in the Verde Valley, what economic impact will it have on our communities?

A quick background

Cannabis (marijuana) remains listed as a Schedule I substance under the Federal Controlled Substances Act of 1970. Schedule I identifies the active ingredient tetrahydrocannabinol (THC) as having "a high potential for abuse" as well as "no established medical use."

The marijuana industry is blossoming, and 2016 could wind up being its best year yet in a number of ways.

Marijuana keeps expanding despite federal inaction

Since California first approved Proposition 215 in 1996 to provide certain patients with medical marijuana on the basis of compassionate use, the marijuana industry has been trudging forward. Today, two dozen states have approved medical marijuana, while another four, along with Washington, D.C., have legalized the use of marijuana for recreational purposes.

Many veterans who struggle with post-traumatic stress disorder (PTSD) have found relief from their symptoms in the form of cannabis. Although this treatment shows a lot of promise in dealing with a very complex and debilitating disorder, it would appear that the Phoenix Veterans Affairs Medical Center is not interested in sharing information about the subject with the people who could be helped most by it.

Parkinson’s disease has been in the news a lot lately with the passing of boxing legend, and social justice icon, Muhammad Ali. Muhammad Ali had suffered from Parkinson’s for quite some time, and passed away this week at the age of 74. There have been several studies that have shown that cannabis can help those suffering from Parkinson’s disease. Via Reset.Me:

Marijuana legalization has been growing like a weed for the past two decades, but 2016 could prove to be its most monumental year yet. Although marijuana has gained 24 state approvals for medicinal use, and four states have legalized its recreational use, we could see up to 12 separate approvals for the currently illicit drug in November.

This expansion is especially important because current President Barack Obama has suggested that the best way to get the attention of Congress is to continue legalizing the drug at the state level. Doing so would eventually force lawmakers to reconsider the federal government's current Schedule 1 stance on the drug.

Tempe rejected a medical marijuana facility's request to open in a building on McClintock Drive just south of Rio Salado Parkway.(Photo: Chris Coppola)

A dispute over whether a medical-marijuana facility can locate across from Arizona State University property in Tempe is headed toward a showdown in Maricopa County Superior Court.

The dispensary, Healing Healthcare Inc.,  claims city officials wrongly invoked an ordinance that prevents dispensaries from locating within 500 feet of residential zoning districts when it sought to open in a building across from ASU's Karsten Golf Course, on McClintock Drive just south of Rio Salado Parkway.

A group dedicated to keeping marijuana illegal has launched an effort to convince city councils across the country to actively oppose measures to end cannabis prohibition that are expected to appear on at least five state ballots this November.

A judge sentenced cannabis activist Billy Hayes to two years in prison on Friday for his role in two medical-marijuana businesses.

Pot proponents advocating for marijuana legalization in Arizona have asked a rival campaign to return $10,000 in funding from the local alcohol industry.

Carlos Alfonso, a spokesman for the Campaign to Regulate Marijuana Like Alcohol (CRMLA), told reporters Tuesday that Arizonans for Responsible Drug Policy (ARDP), an organization fighting against legal marijuana, should reject a contribution from a state liquor group.

Insys Therapeutics, Inc. (NASDAQ: INSY) (“Insys” or “the Company”) today announced that it has successfully completed its Phase 1/Phase 2 safety and pharmacokinetic (PK) study in pediatric subjects with treatment-resistant epilepsy.

In this trial, 61 subjects with refractory epilepsy, between the ages of 1 year to 17 years, received treatment with Insys’ pharmaceutical cannabidiol (CBD) oral solution across multiple investigative sites in the United States.  The clinical trial evaluated multiple ascending doses of Insys’ CBD with three cohorts of subjects receiving total daily doses of 10 mg/kg, 20 mg/kg or 40 mg/kg.  Over 80% of these subjects continue to receive CBD in an ongoing long-term safety study.