“Dave’s Not Here Man”
“They’ve Outlawed the Number One Vegetable on the Planet”
Grass. Pot. Weed. Ganja. Reefer. Wacky tobaccy.
The monikers are infinite.
And apparently, so is the growth potential of the burgeoning cannabis industry. GreenWave Advisors, a marijuana research and financial analysis firm (could anyone have remotely envisioned such a firm a decade ago?) prognosticated last year in a report that if the federal government and all 50 states legalize recreational marijuana, it could be a $35 billion annual business by 2020.
While that’s probably a Rocky Mountain High pipe dream for the near future, another cannabis industry investment and research firm, Oakland, CA-based ArcView Group, said that the U.S. market for legal cannabis almost doubled from $1.5 billion in 2013 to $2.7 billion last year. ArcView also predicts that by 2020, another 14 states will legalize recreational marijuana and two more states will legalize medical marijuana.
Currently four states – Alaska, Colorado, Oregon, and Washington – have legalized retail marijuana; Washington D.C. voters legalized recreational use but sales are still illegal.
Erik Devaney, writing in HubSpot, said it’s not just marijuana growers, distributors and dispensaries comprising this potentially lucrative landscape.
“It’s also fertilizer companies, and lighting system... Read more