Every day new ventures emerge in the cannabis industry. Investments in new technologies and plant cultivation are on the rise, and we’re seeing more and more dispensaries opening throughout the United States, especially in California.
This increase in interest correlates with a recent report from MJBizDaily indicating that there are between 125,000 to 160,000 workers employed in this market, more than the total number of pilots currently employed!
We can consider this growth a result of several factors, among them, the legalization of cannabis, in at least some limited medical capacity, in several states and the District of Columbia. Although cannabis is still illegal under federal law, such legalization on the state level has led many small and medium-sized businesses to see an opportunity to invest. Another important point to be raised is the fact that the population itself is beginning to see this industry with new eyes, in a less sensationalized and prejudiced way.
In addition, because it is an industry that is taking its first steps, the cannabis market can be considered innovative. Composed of open-minded people, generating an acceptance for new cannabis uses and ventures makes this industry extremely promising for new business opportunities. A reflection of this is shown in a recent research reporting that the cannabis industry is the first market that can provide gender equality, representing the way of thinking by who is directly involved with it.
As a result, new jobs in this market have emerged at a rapid rate. According to data from ZipRecruiter, cannabis industry job postings increased 445% in 2017, while in the previous year the increase was only 18%. Their data also shows that the cannabis industry is growing more rapidly than some of today’s fastest-growing fields. Year over year growth of job posts in the cannabis industry is outpacing both tech (254% growth) and healthcare (70% growth)— by some reports, there are 14% more legal marijuana workers than there are dental hygienists in the U.S.
Through an analysis conducted by New Frontier Data, it’s expected that the federal government could create at least $ 131.8 billion in tax revenue over the next eight years if cannabis was legalized in all 50 states. Their research suggests that federal legalization would immediately create 782,000 jobs, and the firm forecasts that it would increase to 1.1 million jobs by 2025, including growers and retailers.
All this data is a reflection of what is already happening and what is to come, and this is only the beginning. Thus, with so many opportunities being generated for so many workers, surely the cannabis industry will become even more important to the people who benefit from their products, and more than that, a great source of economy and growth for the country.