Tuesday, March 15, 2016

Marijuana Industry Could Fuel $44 Billion into US Economy by 2020

Posted By on Tue, Mar 15, 2016 at 9:00 AM

click to enlarge PHOTOSPIN
  • Photospin
If more states get on board with legalizing recreational and medical marijuana, the weed industry could have an impact of up to $44 billion in the  U.S. economy by 2020, according to a report by the Marijuana Business Daily.

In 2016, the industry is estimated to contribute between $14 and $17 billion. Four years form now, marijuana could fuel between $24 and $44 billion into the economy, the report says.

The figures come from the industry's overall contribution, such as licensing fees, tax revenue, and retail sales.
The projections reflect marijuana’s march towards the mainstream as it emerges from the shadows to become a respectable, above-board industry that is giving birth to scores of jobs, fostering new business opportunities and creating a broad ripple effect across the country.

“We’re witnessing the emergence of a business that is about to become a massive economic force,” said Chris Walsh, managing editor of Marijuana Business Daily. “These figures, which we deem conservative, show not only how important the industry already is to the U.S economy at large, but also how much more important it is about to become.”
This election cycle, Arizona, California, and Nevada are among the handful of states that could vote to legalize recreational weed, while Ohio voters will decide the fate of medical cannabis in the state.

Colorado and Washington state legalized weed in 2012. Alaska, Oregon and D.C. legalized it in 2014.

Tags: , , , , , , , , , , , ,

Comments (4)

Showing 1-4 of 4

Add a comment

 
Subscribe to this thread:
Showing 1-4 of 4

Add a comment

More by María Inés Taracena

Today | Fri | Sat | Sun | Mon | Tue | Wed
Guided Tea Tasting

Guided Tea Tasting @ Seven Cups

Fridays, 3-3:30 p.m.

All of today's events | Staff Picks

Staff Pick

Arizona-Sonora Desert Museum Cool Summer Nights

Beat Arizona heat and enjoy a family-friendly outing during the Desert Museum’s Cool Summer Nights. The stunning… More

@ Arizona-Sonora Desert Museum Saturdays, 5-10 p.m. Continues through Sept. 2 2021 N. Kinney Road.

» More Picks

Submit an Event Listing

Popular Content

  1. The Weekly List: 15 Things To Do In Tucson In The Next 10 Days (The Range: The Tucson Weekly's Daily Dispatch)
  2. Burlesque Battle of the Bands This Weekend? Yep, You Read That Right. (The Range: The Tucson Weekly's Daily Dispatch)
  3. Quick Bites: Sandwich Smackdown (The Range: The Tucson Weekly's Daily Dispatch)
  4. Quick Bites: HarvestFest & Grape Stomp 2017 (The Range: The Tucson Weekly's Daily Dispatch)
  5. In The Flesh: Jimmy Carr and the Awkward Moments Create a Raucous Musical Celebration Aboard Sun Link (The Range: The Tucson Weekly's Daily Dispatch)

© 2017 Tucson Weekly | 7225 Mona Lisa Rd. Ste. 125, Tucson AZ 85741 | (520) 797-4384 | Powered by Foundation