Home » Report: Marijuana’s Annual Economic Impact In U.S. Could Reach $44 Billion In 4 Years

Report: Marijuana’s Annual Economic Impact In U.S. Could Reach $44 Billion In 4 Years

By  //  March 14, 2016

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Medical Marijuana on November Ballot in Florida

Good news for medical marijuana supporters in the Sunshine State: the Florida Supreme Court gave the seal of approval on ballot language for an amendment to legalize medical pot on Thursday.
The medical marijuana initiative will be on the Florida ballot in November. (Space Coast Daily Image)

BREVARD COUNTY, FLORIDA — The U.S. cannabis industry will pump up to $44 billion annually into the country’s economy by 2020 if current business and legalization trends continue, according to exclusive data released Monday in the 2016 Marijuana Business Factbook.

Published by Marijuana Business Daily, the report estimates that the industry’s annual economic impact will soar from $14 billion to $17 billion in 2016 to $24 billion to $44 billion in four years.

The projections reflect marijuana’s march toward the mainstream as it emerges from the shadows to become a respectable, above-board industry that is giving birth to scores of jobs, fostering new business opportunities and creating a broad ripple effect across the country.

“We’re witnessing the emergence of a business that is about to become a massive economic force,” Chris Walsh, managing editor of Marijuana Business Daily, said on its website.

“These figures, which we deem conservative, show not only how important the industry already is to the U.S economy at large, but also how much more important it is about to become.”

The Florida medical marijuana initiative will be on November ballot. In 2014, the measure fell just short of the 60 percent approval needed for constitutional amendments.

CLICK HERE To Read the Report From Marijuana Business Daily.