The U.S. Marijuana Industry could generate a $130 Billion economic impact by 2024.
The American cannabis industry is projected to contribute a staggering $130 billion annually to the U.S. economy by 2024. These estimates from the Marijuana Business Factbook show a significant growth trajectory, with legal cannabis sales expected to increase from $38 billion-$46 billion in 2019 to $106 billion-$130 billion by 2024.
This highlights the industry's rapid evolution and its ability to create jobs, open new business opportunities, and have a positive impact throughout the country. Despite the challenges posed by the pandemic, the cannabis industry remains strong, and its economic impact goes beyond the revenues generated within the supply chain.
The industry's contribution is evident in areas such as cannabis tourism, real estate, construction, and tax revenue, supporting infrastructure projects and government programs. These findings provide valuable insights for lawmakers and officials when considering the benefits of cannabis legalization.