Marijuana Industry to Create 200,000 Jobs in 2015, Generate $21 Billion By 2020

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Pictured: Washingtonians celebrating the state’s first day of legal marijuana sales on June 8, 2014

Every day, legal marijuana businesses continue to hire and employ more and more job-seekers who continue to target America’s fastest growing industry. And as more states continue to join the legalization bandwagon (Alaska, Oregon, and Washington D.C.), more jobs and revenue will clearly continue to become available.

A recent Press Release from CannaInsider estimates that as soon as next year, the legal marijuana industry will create 200,000 new jobs in 2015. Living in Colorado the last 18 months, it’s been easy to see first-hand a clear influx of college graduates and cannabis refugees flocking to the state to enter the green rush.

Along with the clearcut medical benefits of marijuana and tax dollars the plant generates, it’s power as an employer has become vast and undeniable. While the plant saves lives as medicine, it also changes (and in some cases, saves) lives of those looking for a much-needed job in a new, evolving field.

The job creation estimate doesn’t include which states will be creating those jobs, but one would assume most will be created in states with legal weed like Colorado, Washington, and Oregon. Colorado’s industry created at least 10,000 jobs this year, so the estimate clearly projects expansive growth.

Matt Karnes, Founder and Managing Partner of GreenWave Advisors states that by 2020, the industry will easily reach eleven digits.

“By 2020, assuming the most likely progression of state by state legalization, we expect the combined (medical and adult use) retail marijuana market to reach $21 Billion. Jobs are just the beginning, a cultural shift towards the cannabis plant is taking place.” [CannaInsider]

This estimation actually falls far lower than another recent estimate that believes the industry could be worth more like $35 billion by 2020. Given the uncertainty surrounding the breadth of Washington, Oregon, and Alaska’s impending markets–along with upcoming legalization efforts in states like Arizona, California, and Nevada–this financial number is nearly impossible to pinpoint.

In Colorado, from January to October 2014, the state sold just shy of $250 million of retail cannabis plus over $325 million of medical sales.

But without clearcut analytics and statistic-based projections, consider these estimations very loose and subject to unknown legislation outcomes.

California’s cannabis alone has been deemed to be worth a cool $31 billion by some analysts.

While it may be impossible to accurately predict the financial size and employee growth within this industry, it’s easy to see that the green job market and the green stock market are both on the rise.

h/t Whaxy

About Author

Barry has been writing about marijuana for over five years. Prior to joining Marijuana.com, Barry wrote about sports and music. His work has appeared on TIME, The Huffington Post, Deadspin, and elsewhere on the Internet. In his spare time, he enjoys disco and Kosher Kush.

5 Comments

  1. Fuck creating jobs. Just more corporate bullshit and political catchphrasing. Let us grow and market our own. Stop trying to sucker us into allowing a few people to get rich while the rest of us get screwed.

    • aRJay0229SaKaba . on

      Think that over again because there is much more to it then only giving a certain group of people jobs and the polictical side, this could go world wide like it should be. #LEGALIZE

      -Amsterdam

    • Victor Alvarez on

      I believe the industry being spoken about here is mainly the frame work around the plant ie lighting co’s, energy co’s, nutrients co’s and any other item needed for growing and processing the plant.
      corporations will be around but it’s up to the people to stay buying local and from family owned co’s. it’s up to he majority of the people as to which way the nation will go regarding who they buy from. it’s up to people like you to keep speaking up because i believe you are correct in that this plant, all by itself, does not need the help of corporations to succeed. plus most jobs are created by small business not corporations.

  2. The same people who were behind persecuting us for 80 years now want us to be their minimum wage slaves. Not only that, their factories produce weed that is subpar to brick weed. The rich are feeding us crap and telling us it is cake. Resist them.

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