A recent report from Marijuana Business Daily found that the U.S. legal cannabis market is creating a significant number of new jobs.
The United States’ marijuana industry has generated an estimated 100,000 to 150,000 jobs, according to a recent report. The 2016 Marijuana Business Factbook, published by the research and editorial team at Marijuana Business Daily, is an annual publication that features an in-depth financial look at the marijuana industry for businesses and investors.
The new job estimates provided in the report include employment at medical dispensary and recreational retailers, infused product manufacturers, cannabis wholesale cultivators, and testing labs, as well as companies related to marijuana ancillary services, technology, and products.
The job measurements were calculated by taking the estimated number of marijuana business throughout the U.S. and applying the average number of workers companies in each of those segments typically employ. They include both part-time and full-time positions.
Per the report, plant-touching cannabis businesses lead the industry and account for 58,000 to 88,000 of the total jobs. Ancillary companies that don’t directly handle the plant but are associated with the industry, such as vaporizer manufacturers, cultivation equipment businesses, and professional services firms, employ 42,000 to 66,000 people in the U.S. The number of companies currently in the cannabis industry is between 21,000 and 33,000, with 7,000 to 11,000 being plant-touching businesses.
The industry’s employment numbers are impressive, particularly for a market that is relatively young. Since 1996, 25 states have passed comprehensive medical cannabis legislation, and since 2014, just four states have made adult use marijuana legal.
The industry’s potential for growth is high, as five states – Arizona, California, Maine, Massachusetts, and Nevada – have recreational marijuana initiatives headed to the ballot this November. Another four states – Arkansas, Florida, Montana, and North Dakota – will vote on legalizing medical marijuana. Additionally, Maryland, Ohio, and Pennsylvania have already passed cannabis legislation but are not yet up and running. Once they come online, they will help further boost employment. The report estimates that total annual retail sales of medical and recreational cannabis could reach $11 billion in 2020.
In California, where polls indicate an adult use marijuana initiative will pass, the Huffington Post reports that 115 new companies have joined the National Cannabis Industry Association since January. The new California companies, which include cultivators, dispensaries, law partnerships, labs, accountants, software developers, and insurers, bring total membership in the state to 330.
Medical Marijuana, Inc., the first public company to put down roots in the legal cannabis industry and the first to develop the world’s first legal supply of CBD, recently launched a new hiring drive for sales professionals as it expands in the U.S. and in international markets. Current open positions include Inside Sales Representative, Outside Sales Representative, Copywriter, and Customer Service Representative. You can learn more about the open positions by visiting Medical Marijuana, Inc.’s “Career” page.
“I can’t think of a more exciting time than right now to get involved in the cannabis business — currently the world’s fastest-growing industry,” Medical Marijuana, Inc. CEO Dr. Stuart Titus said in July. “We’re looking for new team members that will help us continue to be the premier cannabis and hemp industry innovator, while keeping their integrity and entrepreneurial spirit. The Company has truly gone from a start-up with a vision to a company with the first-ever approved cannabis products in some of the largest markets in the world. I’m proud to say that as the Company expands internationally, the management team is looking to build a high-performing culture, with job opportunities and high-yield careers.”
The 2016 Marijuana Business Factbook is the publication’s 4th edition.