As the midterm elections approach Tuesday, businesses in select states have much at stake with ballot proposals that include legalizing marijuana use and raising minimum wages. Governors' races could also lead to expansion of low-cost health coverage under Medicaid.
The outcomes of the proposals will have wide reaching effects on companies, especially smaller Main Street businesses, which collectively have seen modest growth since the recession.
Voters in four places will decide whether to push legalized marijuana further into the mainstream. Alaska, Oregon and Washington, D.C., voters will consider approving recreational use of marijuana, while Florida voters will consider medicinal purposes.
So far, 23 states and the District of Columbia having legalized the drug for medicinal applications. Colorado and Washington state have legalized marijuana for recreational use.
It's likely all four marijuana initiatives will pass, says Mason Tvert, a spokesman for the Marijuana Policy Project. The group works to reduce or cut penalties for medical and nonmedical use of cannabis.
And the outcomes Tuesday could lead to more jobs and tax revenue.