Five Facts You Didn’t Know About The Cannabis Industry

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Five facts you didn’t know about the cannabis industry. jopstock | Getty Images

Whether you’re running a dispensary or you’re working in an ancillary business serving the pot industry, cannabis is set to take off.

Legal sales of marijuana are expected to grow to more than $20 billion by 2022, from approximately $10 billion in 2018, according to Marijuana Business Daily.

Further, Michigan, Utah and Oklahoma may vote on cannabis reform this year, according to the Marijuana Policy Project.

Here are five facts you may not know about this budding business.

There will be an additional 340,000 full-time jobs by 2022

The cannabis industry employs between 125,000 to 160,000 full-time workers, according to Marijuana Business Daily. It’s expected to add another 340,000 full time jobs by 2022, reflecting an estimated growth of 21 percent per year.

Those careers run the gamut, from individuals who are growing plants to those who work for “ancillary businesses” that don’t involve coming into direct contact with weed, such as providing legal services.

U.S. demand for weed: $52.5 billion

Counting both legal and black market sales, the total demand for pot is approximately $52.5 billion, Marijuana Business Daily found.

Read the full article here.

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