At the moment, there are only two estimations as to how much money Ohio would generate upon approving Issue 3 due to the fact that nobody has made a model for the legal marijuana that would be able to be established. However, the two possible guesses contain one favorable value: billion.
The first estimate is $2.26 billion. This number would be the estimate of total sales of legal marijuana as well as products of marijuana in 2020. Furthermore, a group of workers put together by ResponsibleOhio, a private investor group; this investor group also came up with the constitutional amendment known as Issue 3. The leader of the group of workers was Hamilton County Prosecutor Joe Deters.
The group of workers also reported that the ten farms cultivating the cannabis would likely make around $1.1 billion in 2020; the men amid the whole process would make around $726 million dollars. These numbers were double-checked by Burke Rosen’s Cleveland economic analysis firm.
$1.8 billion is the second estimate. This number would also be the estimate of total sales of legal marijuana as well as products of marijuana in 2020. A year-old analytics firm in Washington, D.C., New Frontier, that is consistently studying marijuana and its effects on the market came up with this value. John Kagia, an analyst, said that his estimate is based on the data from the four states that have legalized marijuana.
“The legal markets are starting to normalize which gives us greater confidence in our ability to say what we expect will happen in the new markets as they come online,” Kagia says.
Moreover, when The Enquirer pleaded New Frontier to examine the ResponsibleOhio’s group of workers’ estimates, Kagia returned with an initial guess of $1.4 billion a year. However, new data came in just a month ago from Colorado and Washington, and Kagia was forced to raise the value.
“Although there’s still a significant difference between our number and the ResponsibleOhio number,” Kagia said.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
