Study: Legal pot fastest-growing U.S. industry
By Matt Ferner, Huffington Post
Legal marijuana is the fastest-growing industry in the United States and if the trend toward legalization spreads to all 50 states, marijuana could become larger than the organic food industry, according to a report obtained by the Huffington Post.
Researchers from the ArcView Group, a cannabis industry investment and research firm based in Oakland, found that the U.S. market for legal cannabis grew 74 percent in 2014 to $2.7 billion, up from $1.5 billion in 2013.
The group surveyed hundreds of medical and recreational marijuana retailers in states where sales are legal, as well as ancillary business operators and independent cultivators of the plant, over the course of seven months during 2013 and 2014. ArcView also compiled data from state agencies, nonprofit organizations and private companies in the marijuana industry for a more complete look at the marketplace.
“In the last year, the rise of the cannabis industry went from an interesting cocktail conversation to being taken seriously as the fastest growing industry in America,” Troy Dayton, CEO of The ArcView Group and publisher of the third edition of the State of Legal Marijuana Markets, said in the executive summary of the report. “At this point, it’s hard to imagine that any serious businessperson who is paying attention hasn’t spent some time thinking about the possibilities in this market.”
Just quit pussy-footing around and legalize it!! Regulate and tax it the same way as alcohol. Done. Enough on this already!
And move growing into industrial areas and out of neighborhoods.
To give you an idea of the kind of money being generated in this sector, consider this. In the last 30 days, my company, Cannabis Sativa, Inc., has experienced a doubling of stock value from $4.60 on December 30, 2014 to $8.80 today. It has been one year since I founded this company and our current market cap has skyrocketed to $125 million. My company does licensing and branding of cannabis products, but does not manufacture or produce any cannabis on our own.
Get the growers out of our neighborhoods, their viscious dogs and guns too
Steve Kubby
I see your company stock was trading at $15 not long ago. What happened ?
I’d be pretty upset if I had bought then.
Smoking Dope is not good for you.
I know from personal experience.
Nature Bats Last, I agree with you on getting the grow houses out of residential areas. Fire danger,viscious dogs, my neighbor had 8 mixed breed dogs that killed my dog when they broke thru the fence. Guns and gang activity seem to come with growing as well. A couple of plants for personal use is no big deal to me. But 70 plants crammed into a small cabin? That’s a problem! I’m used to the smell of growing because it’s everywhere around here when they vent the house.
Grow vegetables instead!!! Wanna do something fun? From your garden (you do have one, right?) pick a few snow peas, a green bean and a leaf of lettuce from your garden. Roll the bean and peas up in the lettuce leaf just like you’re rollin’ a joint back in the 60’s. Munch it down raw and fresh picked. Aint nothin’ like it!!!
OLS , (Old Long String beans)
OLS and nature: Agreed. These people are dangerous. We need to get them out of our neighborhoods. They are hostile to almost anyone who approaches them and are usually heavily armed. Stoned people don’t act responsibly and therefore shouldn’t have guns or vicious dogs.
OlS and tahoe, its a nobrainer how the rules could be good for neighborhoods and growers but I believe, unfortunately, that there will always be a seedy element to this issue. I do grow a garden but its mostly perennials now as the growing season is so short and too many garden predators so I try and support the veggie/fruit growers from the valley. I have an amazing compost though that is the best ive ever had. My yard is very happy. Be Safe!