These Markets Stand To Reap The Benefits Of Marijuana Legalization
2018 is off to a rolling start for cannabis legalization. California has officially begun legal recreational sales, and Vermont decriminalized possession and cultivation for small amounts of weed shortly after. New Jersey is also expected to follow suit after governor Phil Murphy promised he’d legalize cannabis within his first 100 days in office. To celebrate all this progress, we’ve decided to take a look at the markets that are set to reap the benefits of marijuana legalization.
From tourism right through to real estate, countless industries can take advantage of the benefits of marijuana legalization and the building of a controlled, standardized marketplace for weed. Here are some of those industries.
The job market is one of the most obvious markets that will benefit from marijuana legalization. The cannabis industry in the US is blooming and, as more and more states legalize, it is only expected to keep growing. Last year, Business Insider projected that the Californian marijuana market would come to be worth $3.8 billion in 2018.
By 2019, California’s weed market is expected to be worth over $5 billion dollars. Thanks to this growth, California is already benefiting from an influx of new job opportunities. Dispensaries need staff, as do cannabis farms, edible manufacturers, and all the other moving parts involved in growing, harvesting, transporting, processing, and selling the plant.
UX copywriter, Cure Associate, Urban Agriculture Grower, Transition Support Team Member, and Infused Production Specialist are just some of the exciting opportunities advertised on Indeed if you search for “cannabis.”Most of these jobs are based in Ohio, California, Colorado, and other states where cannabis is already legal, but any other states that move to legalize will soon have similar jobs on offer.
Education is another market that’ll get a firm boost wherever cannabis is legalized. While “weed” might seem easy to grow and treat, there’s actually a lot that goes into producing those buds you love to smoke or those dabs you treasure. Hence, building a strong, reliable cannabis industry in any area involves a lot of education.
Growers need to learn about the plant’s unique life cycle, and how they can manipulate the plant in order to produce the best possible product. Meanwhile, concentrate manufacturers need to learn about the different extraction methods, their pros and cons, and which to use based on what product they want to produce.
Even Cure Associates (like those being hired by Native Roots at the moment), need to be trained on the cultivation of cannabis, and the different processes involved in curing the plant before it is sold. The list of examples of education necessary to sustain the cannabis industry goes on and on.
One of the best benefits of marijuana legalization is a boom in the education market as companies and cannabis professionals seek out training and qualifications to help them excel in their new industry.
Real estate is another market which is already seeing a huge boost thanks to legalization.
“In Colorado… we saw the cannabis industry rent a lot of B- and C-class retail space, and also transform a lot of industrial space,” said Adam Orens from the Marijuana Policy Group, a cannabis-focused economic and public policy consulting firm in Denver.
The cannabis industry is based on agriculture. This means that anywhere cannabis is produced and sold, businesses operating in the industry will be looking for places from which to run their operations. From dispensaries and head shops to farms to manufacturing plants for edibles, most cannabis businesses need some slab of land or space (however big or small) to operate from. This can translate into big business for the real estate market, which will suddenly have a new, hungry client to attend to.
Weed tourism might sound weird, but its a thing. If you don’t believe us, just look at Amsterdam.
For years, the Dutch capital has attracted cannabis enthusiasts from all over the world with its coffee shops, smart shop, seed banks, and more. Now, as more and more places begin changing their stance on cannabis, they too can start fighting for a piece of the action.
Companies like My 420 Tours in Denver, Colorado, have already begun taking advantage of the influx of tourists looking to take a closer look at Colorado’s booming weed industry. Bud And Breakfast, on the other hand, acts like the bed and breakfast of the weed world, allowing users to browse cannabis-friendly accommodations all around the world, including in the US, Canada, Uruguay, Colombia, and more. Similar cannabis-related tourism ventures are sprouting up all the time wherever weed is legalized.
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