Puerto Rico: Young Generation Creating an Island of Cannabis Opportunity

Puerto Rico’s population is about the size of Connecticut, but it’s a territory, not a state. As such, it’s exempt from many federal tax laws, including IRS rule 280E, the one that prohibits cannabis businesses from claiming normal expenses.

I’m an hour and one tequila into a cocktail party in San Juan when I meet the duo who call themselves the “canna-hoods” of Puerto Rico.

This is technically a business party, a reception for press and presenters attending tomorrow’s AgroHack conference (a tech-agriculture-sustainability mashup), so they’re introduced to me simply by their names: Carmen Portela and Gaby Pagan.

They’re the co-founders of Growth Leaders, a consulting company they created to shape the island’s nascent medical cannabis industry.

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