Moving along into an unpredictable future that some is referring to as Trumpism, we are trying to confirm what the new administration will mean for the marijuana industry. With a majority of states now enjoying legal weed in some form, we try to be optimistic in the hope that the federal government will respect states’ rights. How could the present administration not see the benefits of legal cannabis, one of the fastest growing industries in the country that is creating more jobs?
A recent report predicts the legal cannabis market will create more than 250,000 jobs. According to the Bureau of Labor Statistics, this is more jobs than are expected to come from the government, manufacturing, and utilities. New Frontier Data is basing these projections on markets in states that have already passed legalization and does not include additional states that will likely pass initiatives in the coming years. The legal marijuana market was worth an estimated $7.2 billion in 2016 and is projected to grow at an annual rate of 17%. MMJ sales are projected to grow from $4.7 billion in 2016 to $13.3 billion in 2020. Recreational sales are estimated to jump from $2.6 billion in 2016 to $11.2 billion by 2020.
Giadha Aguirre De Carcer, founder and CEO of Washington, D.C.-based New Frontier Data stated, “These numbers confirm that cannabis is a major economic driver and job creation engine for the U.S. economy. While we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline.” Aguirre De Carcer said that despite a possible slowdown in the marijuana industry in the next three to five years, projected total market sales are expected to exceed $24 billion by 2025, with the possibility of almost 300,000 jobs by 2020.
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1 comment
I have a lot more to say about what is going on in our country and I can only hope that some people will actually listen and see the reality of what is going on in America! After about 30 years of tremendous growth in the U.S. We the people were able to save money, buy houses, buy cars, live better lives, support our children with better food, better education and so on. But someone decided that we were doing too good to suit them! So an all out effort was made to take it all away by any means necessary. I will start with all the taxes that were imposed on us by our Gov’t. The stealing of our Social security money by two Presidents, Reagan and Clinton. ( thats why the money is not there now ) the giving away of our jobs to other countries. The Stock Market Crash of 2000! ( Which was created by Wall Street ). By the way, not only did Americans lose their hard earned money but people all around the world did also!!!! That is what led up to the attack on us in 2001. People around the world were outraged and no one in this country did anything about it!!! The thieves on wall street were responsible and we paid the price!!! Their gluttony is killing all of us. And then to top it all off they did it again in 2008. THERE WAS NO RECESSION IN 2008!!!!! DID YOU HEAR ME??? IT WAS ANOTHER SELL OFF BY THE MARKET MAKERS ON WALL STREET!!! THEY CREATED A RECESSION OR COVERED IT UP BY CALLING IT THAT!!! GLUTTONY AT ITS FINEST!!!! Anything that would help out Americans in any way shape or form someone drops the hammer and we all suffer. As far as I’m concerned both the republican and democratic parties can go to hell !!! Our only hope would have been Bernie Sanders for the change we needed!!!! But no the Dems had to lie and cheat to destroy his chances!!! WHY HE IS WORKING WITH THEM NOW IS BEYOND BELIEF!!!!