Legal cannabis to generate $40bln, 400,000 jobs: Study - News Summed Up

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Legal cannabis to generate $40bln, 400,000 jobs: Study


LOS ANGELES: The legal cannabis sector is expected to generate $40 billion and more than 400,000 jobs by 2021 in the United States, according to a study released Tuesday. The projection would represent a rise of 150 percent on the $16 billion revenue recorded in 2017, according to the study, released the day after recreational use of marijuana became legal in California. Arcview and its partner in the research, BDS Analytics, expect $4 billion in taxes to be generated within three years. The new regime will lead to the creation of nearly 100,000 cannabis industry jobs in California by 2021, about a third of the nationwide figure and 146,000 jobs overall when indirect effects are considered. "I'm stoked about this historic moment, not just for Berkeley, but for the state of California," Arreguin said, praising the state for "embracing this new economy."


Source: New Strait Times January 03, 2018 06:28 UTC


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