It’s no secret that the cannabis industry is bringing in all kinds of money for the industry, but now, there are official numbers backing it up. Even without full legalization, legal cannabis is reportedly poised to bring in almost $100 billion to the US economy in 2021.
This is up 30 percent from last year, and the projected number for 2025 is $169 billion. According to the MJBizDaily analysis, this was done by looking at similar industries and using a standard multiplier of 3.5 on projections of sales, and it includes agriculture, manufacturing and retail activity.
When examined closely across the board, this shows what the future of cannabis will look like and how it will be able to continue to benefit the US economy as the years go on. In this particular instance, the analysts predicted that for every $1 spent by consumers and patients in the retail and medical markets, an additional $2.50 gets put back into the economy. This also has a major impact on local economies throughout the country.
This is the case because of the daily needs of workers in the industry, including spending on housing, transportation, food, and entertainment. By adding more jobs to the legal and