MJBiz - May/June 2024 - 29

FACTBOOK PREVIEW
U.S. cannabis industry total economic impact
$178.5B
$159.3B
$142.8B
$127.1B
Additional
economic
impact of
retail sales
Retail sales
estimate
2024
Source: MJBizDaily research
cannabis sales is expected to
reach $32.1 billion in 2024 and
$58 billion by 2030.
The projections are a best
estimate given the unique
nature of the rapidly expanding
marijuana industry, which is
governed by a patchwork of
state regulations but remains
illegal under federal law.
Marijuana businesses encompass
a range of agricultural, manufacturing
and retail operators as
well as non-plant-touching ancillary
companies such as lighting
suppliers and accounting firms.
Some markets also include
cannabis events and hospitality
businesses, which tend to have
even higher economic impact
than other industries.
Economic Impact
The marijuana industry has a
large impact on the broader
economy, both locally and across
the nation.
2025
2026
2027
2028
2029
2030
NOTE: Estimates are at high end of scale.
© 2024 MJBiz, a division of Emerald X, LLC
That impact comes directly
from the day-to-day needs of
workers in the cannabis industry,
including spending on life's
necessities such as housing,
transportation, entertainment
and more.
Taxes collected from cannabis
businesses and consumers play a
role, too.
Marijuana businesses,
consumers and patients pay
hundreds of millions of dollars
in state and local taxes that
are used to fund government
activities at those levels,
including schools and roads.
Real Estate Renaissance
Real estate also receives
a boost from new retail,
manufacturing and agricultural
businesses moving into an
area, or established companies
expanding, increasing broader
demand for commercial
properties.
In many markets, cannabis
companies are restricted in
where they can operate, but they
often bring new business activity
to areas that previously were
blighted or couldn't attract such
enterprises.
The 2024 MJBiz Factbook,
available now, examines in detail
the impacts from new markets
and ongoing legalization across
the United States.
The latest Factbook includes
almost 50 charts and a state-bystate
overview of regulations,
taxes, market conditions and
what to watch.
More information about the
2024 MJBiz Factbook and how to
subscribe is available at insights.
mjbizdaily.com/factbook-2024.
Andrew Long can be
reached at andrew.
long@mjbizdaily.com.
mjbizdaily.com | May-June 2024 29
$112.4B
$32.1B
$36.3B
$40.8B
$45.5B
$51B
$54.2B
$58B
$189.7B
$203B

https://insights.mjbizdaily.com/factbook-2024/ https://insights.mjbizdaily.com/factbook-2024/ http://www.mjbizdaily.com

MJBiz - May/June 2024

Table of Contents for the Digital Edition of MJBiz - May/June 2024

MJBiz - May/June 2024 - 1
MJBiz - May/June 2024 - 2
MJBiz - May/June 2024 - 3
MJBiz - May/June 2024 - 4
MJBiz - May/June 2024 - 5
MJBiz - May/June 2024 - 6
MJBiz - May/June 2024 - 7
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https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-april-2021
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https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2021
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