Annual overviews of the cannabis industry found that the market will create close to 300,000 jobs by 2020 in Colorado alone, showing legalisation has become a major economic benefit.
The manufacturing industry in the US alone was projected to lose 814,000 jobs by 2024, but while numbers confirm the decline in future markets, cannabis is being seen as a major economic driver and job creation engine for the economy
Forbes magazine reported; not only legal marijuana will create jobs, the market for legal cannabis, currently estimated at $7.2 billion, is projected to grow at a 17% annual rate and this is considering only the states that already have passed marijuana legislation.
While other industries are struggling and shedding jobs, the marijuana industry is seeing positive growth.
Currently, according to surveys, there are an estimated 100,000 to 150,000 workers involved in the cannabis industry directly and 90,000 in related businesses.
A big challenge to the growth of the industry has been the legal duality of marijuana between state and federal laws. People have been afraid of the feds even while working in state legalised weed facilities and companies. Marijuana has seen some support from the courts, with a U.S. appeals court saying that as long as you comply with state laws, you cannot be prosecuted by the government.
The Trump Administration has indicated a possible federal crackdown on marijuana, something that is at odds with its “states rights” position on other issues and also clashes with the data, being seen as a clashing of old mindsets with new frontiers.
The marijuana industry, though seen as a new frontier was actually the largest worldwide industry until the 1930’s when it was abandoned for plastic as a substitute. Now with oil reserves in question, new laws on emissions and the ever increasing costs, industry is now looking back to marijuana as a gold standard industry and with ever increasing technologies, the plant has been seen to be driving new formats, even in the car manufacturing industry.