Cannabis Industry Set For Record Growth in USA

Dubbed the 'Green Rush', legal marijuana is one of the U.S. fastest growing industries right now. But an industry expert has declared that legal and medicinal cannabis could could employ up to two million Americans if all states relaxed laws.

San Diego, United States - August 1, 2017 /PressCable/ —

A leading CBD industry figure has claimed that the U.S. cannabis industry could employ around two million Americans if legalised across the country.

Henry Vincenty, founder of the Endoca Foundation, has said that “marijuana could be one of the country’s biggest employers if laws regarding the growing, distributing and smoking of cannabis are relaxed.”

The claim comes in the wake of a report from the Marijuana Business Factbook 2017, which estimates that over 200,000 U.S. citizens are already legally employed in a cannabis-related job.

The business journal took employment data from wholesale growers and cultivators, edibles or concentrates manufacturers, retail stores and dispensaries, labs and other derivative businesses. This data was then applied to the number of “cannabusinesses” in each canna-legal state to obtain an idea of employee figures.

Employment rates are rising as more states relax their laws on marijuana. Currently, most cannabis businesses are small start-ups, but as states review their laws, experts claim the industry will see a big shift.

Vincenty, whose foundation’s headquarters are in Barcelona, Spain, commented, “What we are seeing in the States at the moment is a potentially massive industry in its infancy.”

“It has already proven to be one of the fast growing employers in the country.”

“There are figures estimating around 200,000 US citizens are employed in legal marijuana businesses right now. Endoca could see this number easily rise to two million if every state adopted the same legal stance as California, Colorado and others.”

If the federal government decreased restrictions across the whole nation, the country would see less small state-restricted start ups and a move to larger nationwide organisations for both the recreational and medical niches.

And not only could the promise of a surge in jobs help sway the decision to relax laws, the massive tax revenues generated from cannabis sales are helping campaigners with their fight. In Colorado alone, the tax on marijuana in 2015 reached $70 million – double the amount of tax received from alcohol[1].

[1] https://www.colorado.gov/pacific/revenue/colorado-marijuana-tax-data

Contact Info:
Name: Demi Pradolin
Organization: Endoca
Address: 2305 Historic Decatur Rd Suite 100, San Diego, CA 92106, United States
Phone: +1-619-831-0156

For more information, please visit http://www.endocafoundation.org/

Source: PressCable

Release ID: 220268