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.
This article appears in Mar 10-16, 2016.
The marijuana industry could fuel $44 billion into U.S. economy by 2020 according Marijuana Business Daily, and in similar “news” the dairy industry says drinking milk is good for you; a glass of wine a day is good according to the wine industry; and “clean” coal is good for the country and OK for you according to the coal industry.
I am sure Nancy is rolling over in her grave to think this country is going to the weeds.
Posted By María Inés Taracena on Tue, Mar 15, 2016 at 9:00 AM
Trump took 4/5 states this day. Maria’s illegal friends are going to have to go back.
Marijuana as a medicine should be accepted. “DUDE WEED LMAO” culture should not.
This could bring 44 billion into this economy >>> Really where does that money come from foreign spending? >> I would think the money is already here it just redirects. So where does it take it from? Since it is illegal from Federal oversight and hence the bank laws. So we have 44 billion collected and goes through a bank that has no oversight and no price fixing oversight, no consumer oversight. So it is YEE HAA cowboy time for the roundup.
This bring to mind the way the National Teamsters were set up Can you say Jimmy Hoffa Lucky Luciano. Does history repeat itself as pondered ?
Thinking back in time Grandma in Iowa a a young bride and WW1 going. Fed agricultural agents came through with sacks of hemp seeds ask to grow where possible for the war effort. About 20 years later the same federal agents cam by and told anyone growing would be thrown in jail it had to be burnt. Harry Anslinger came into a push and shove match between the Hoover’s FBI and Anslinger’s BNDD “Bureau of Narcotics and Dangerous Drugs” So the 1937 draconian laws came about by congress watching such movies as “Reefer Madness” and the like. ” now shown as comedy”
Another 35 years came about and we had Nixon and the change from the BNDD to the DEA and a whole bunch of new laws. This gave us upheaval in all of south America and the proliferation of the cocaine market and paraquat. Lets not forget the scheduling of drugs by the DEA. This is also the Place where a young energetic civil servant took his place to help Mexico ” Joe Arpaio” Yes Joe Arpaio was the Head DEA agent for 17 years in Mexico. Joe oversaw the spraying or Paraquat and all the other nefarious actions being done there at the time. The action was enforcement undercover see who was selling and who was buying. And Agents acted as they were doing both resulting in a bigger underground and international players.
Another 20 years and Regan and his war on drugs and the CZAR for drugs to over see the DEA and get civil seizures going.
So now we are asked again to look at all drug problems and center them on Marijuana. The place that sells crack pipes and cigarette papers, Cigars, hookahs, and of course “water pipe”, This new license asked for will oversee them. Burden on the Medical Patient
The place that sells vap products this new agency will oversee them. Burden on the Medical Patient. looking to establish a agency that duplicates existing one. Burden on the Medical Patient. want to oversee hemp. Burden on the Medical Patient.
So this new proposed laughable but deplorable at the purveyors of such a proposed prohibition. What does CRMLA offer it reads like a plea bargain to commit a limited crime, if you pay the tax. And to do this they will limit supply, control distribution, more enforcement.
Then for them there is the burden put on them with such things like Medical, accountability of money, validating their reason for being. expenses Can you say Jimmy Hoffa Lucky Luciano, Here we are now for the 5th time doing prohibition the right progressive way. The way things were done under Kemper Marley Arizona’s only billionaire and alcohol gambling mafia see were we are going.
To support this is only one reason money in your pocket, while limited the disposal cash in a persons family got smaller. The parasite that would call it a shame or stupid not to support it do you really think they have a concept? would this change your vote?