Recently it seems that everyday a new politician or anti-vapor activist has announced a new proposed bill or regulation that would restrict the usage of electronic cigarettes. While lawmakers and various organizations debate the safety and actual cessation rate of e-cigarettes, they fail to realize the tremendous impact these products have had on the failing economy. This economic impact is not just apparent in America either. This effect has been witnessed worldwide, with the e-cigarette industry estimated to surpass “$10 billion in annual sales by 2017”.
Vapor products are fundamentally driven by technology, so there are continuous opportunities for growth and enhancement
The Smoke-Free Alternative Trade Association (SFATA), created in 2012, is comprised of 171 companies dedicated to, “ensuring a path for the continued innovation of products that researchers worldwide have agreed could eliminate the public health hazards caused by use of combustible tobacco cigarettes”. Executive director of SFATA pointed out the fact that while the economy is slowly recovering these dedicated and responsible companies are genuinely contributing to the revitalization by creating over “70,000 jobs through innovation”. She also stated that, “ Vapor products are fundamentally driven by technology, so there are continuous opportunities for growth and enhancement”.
If vapor products are ultimately regulated as if they were tobacco, this new and innovative industry will be squelched
SFATA is in favor of sensible regulations on e-cigarettes, such as restricting the sale of electronic cigarettes and other vaping products to adult use only. Additionally they support industry standardization and transparency which would require manufactures to thoroughly label their products and disclose all ingredients in their e-liquids and other vaping products. However, SFATA strongly disagrees with the proposed regulations that would classify e-cigarettes in the same category as combustible tobacco products. Despite the vast economic advantages and the abundantly positive public response to these vapor products, SFATA is apprehensive about the future of electronic cigarettes if people don’t get involved and speak up. “If vapor products are ultimately regulated as if they were tobacco, this new and innovative industry will be squelched, the marketplace will be less vibrant and consumers will lose. SFATA is working tirelessly to prevent such costly regulation from being implemented at the national and state levels”.
Full Article Available At: http://www.bizjournals.com/washington/news/2014/07/14/are-e-cigs-good-for-the-economy.html
The Smoke-Free Alternative Trade Association “About” Page: http://sfata.org/about-sfata/