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9| O akville B eaver | T hursday,N ovem ber 8,2018 insidehalton.comdelmanor.com Across the GTA, at every Delmanor residence, we're constantly reminded of the contribution our residents made to building and protecting this country. They sacrificed to make our lives better. It's our responsibility to make theirs easier. Join us this month in saluting our veterans, past, present and future. Be ever grateful for your freedom and those that served to protect it. We are, every day. They proudly served Canada. We're proud to serve them. (905) 469-3232 1459 Nottinghill Gate, Oakville Delmanor Resident and Veteran Pud bySteveNeaseOn Oct. 17, adult con- sumption of cannabis for recreational purposes be- came legal in Canada. It has marked the begin- ning of a new era. A battle between a newly regulated industry and the existing il- legal market. By legalizing recre- ational cannabis, the feder- al government is seeking to displace illicit sales that profit organized crime. According to Statistics Canada, Canada's illegal cannabis market was worth as much as $6.2 bil- lion in 2015, nearly as much as Canada's wine market. In late 2017, the federal government reached a can- nabis tax revenue sharing agreement with the prov- inces and territories. On top of sales taxes, the agree- ment included a cannabis excise or "sin" tax of 10 per cent of the retail price. The 10 per cent tax is expected to raise $300 million annu- ally for the provinces/terri- tories and $100 million an- nually for the federal gov- ernment. The Ontario govern- ment has stated that it wants to allow private re- tailers to operate stores with government licences, but it will allow for munici- palities to "opt out" of per- mitting retail stores in their communities. Private retailers in Ontario will be able to open up starting April 1, 2019. However, for those mu- nicipalities that permit re- tailers, the province will provide $40 million over two years to municipalities across Ontario. This fund- ing will be calculated on a per household basis. Mu- nicipalities will be able to use this funding to address costs that directly relate to the legalization of recre- ational cannabis. For ex- ample, this funding could be used for increased en- forcement, 311 calls, and theforcement, 311 calls, and thef like. As municipalities, like Oakville, deliberate over whether or not to "opt out" of allowing retail stores in the community, the Oak- ville chamber is encourag- ing council to look at all the facts. For example, if a mu-facts. For example, if a mu-f nicipality does "opt out," the reality is that Oakville residents will still be able to legally purchase cannabis online or in neighbouring jurisdictions. The econom- ic benefit of having them spend their money in our community needs to be considered. To that end, Deloitte has reported that the total mar- ket potential of cannabis in Canada could be as high as $22.6 billion per year when considering production, distribution, parapherna- lia, tourism and business taxes. Some municipalities across Canada have seen significant new business investment in their com- munities. Provinces, such as New Brunswick, have embraced the sector as an economic development tool that is creating hundreds of new jobs. In many communi- ties, local businesses are anticipating higher foot traffic because of cannabis stores, which will help revi- talize malls and main streets. Additionally, it has been noted that communi- ties can expect better pub- lic safety and public health outcomes by having legally regulated businesses serv- ing cannabis consumers, instead of the illegal mar- ket. Consequently, the Oak- ville chamber is encourag- ing our new council to care- fully consider all the infor-fully consider all the infor-f mation as they deliberate on the future of retail can- nabis stores in Oakville. The Oakville chamber hopes to be part of a larger discussion to help shape the development of this sec- tor in a way that grows our economy, generates new employment and reduces the effects of the illegal market. Faye Lyons is the vice- president of government relations and advocacy at the Oakville chamber. OPINION insidehalton.com IS THERE A BUSINESS CASE FOR RETAIL CANNABIS IN OAKVILLE? THE OAKVILLE CHAMBER ENCOURAGES COUNCIL TO LOOK AT ALL THE FACTS, WRITES LYONS FAYE LYONS Column