The Medical Marijuana Business Industry is expected to boom after Colorado and Washington Legalize Marijuana for recreational use. Marijuana entrepreneurs and Marijuana Investors across the United States are seeing big piles of green, money and buds that is! The legalization of recreational marijuana in Colorado and Washington will create a new industry that may in turn fuel a local business boom, with staggering potential economic impact. According to a survey by the National Cannabis Industry Association, the Colorado medical marijuana industry generated more than $181 million in sales since 2010 and employed 4,200 state-licensed workers. These numbers will multiply by 10+ by the end of 2013 now that marijuana has been legalized for recreational use for people 21 years and over. With this marijuana gold rush you can expect to see a large number of new jobs created and a larger demand for marijuana by the consumer. Colorado and Washington State will create approx. 3000 new jobs from growers, chefs, testing laboratories, dispensaries just to name a few and will generate $300+ million in tax revenue which will be used to help strengthen the local economy in these states.
Colorado Medical Marijuana Business Industry
The Colorado medical marijuana industry only accounts for 10 percent of the marijuana consumers in Colorado, which means there’s still 9 out of 10 people still purchasing marijuana on the black market, from basement growers and street dealers. The legalization of recreational marijuana in Colorado will create a new industry that will result in a local business boom, with staggering potential economic impact. According to a survey by the National Cannabis Industry Association, the Colorado medical marijuana industry generated more than $181 million in sales since 2010 and employed 4,200 state-licensed workers. Now that marijuana is legal in Colorado, these numbers will be multiplied by 10+, generating $250 million and creating 4000+ new jobs. National pot sales will surge into the 10 Billion $ range, which alone can help get our economy out of the deficit and debt we are in today.
The economical boom that comes from this is not restricted to marijuana dealers and growers as this will create a boom in the real estate market, construction supply and building companies, restaurants, bakeries, marijuana testing laboratories just to name a few. Colorado is already expecting 10,000 new residents to move into the state within the next year. People are seeing this as the newest gold rush boom, just more in the shade of green.
Washington Marijuana Business Industry
56 percent of residents in Washington State voted in favor to legalize marijuana for recreational use, which a variety of industries will benefit from. Local businesses in Washington will see a large number of new customers in their business as people from all over the country will be moving in, ranging from construction companies, local eateries, gas stations, retail stores along with most every other local business there is.
Agricultural farmers in Washington are excited to try and add marijuana to the list of crops they cultivate and supply to local residents as their farms have been struggling to turn a profit for a few years now. Marijuana plants can provide hemp, seeds, fuels and buds which the consumer smokes. All of these items can result in larger profits thus allowing the farmer to stay in business and employ more people to work the farm.
The marijuana business industry in Washington and Colorado are still considered to be illegal by federal law which means everyone needs to take caution and follow all rules and guidelines preventing the feds from having a reason to shut it down.