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Legal Marijuana Industry Booming, No Thanks to Trump

Image: Legal Marijuana Industry Booming, No Thanks to Trump

Marijuana infused mints wait to be shipped at Kiva Confections in Oakland, California. (Justin Sullivan/Getty Images)

By    |   Monday, 05 February 2018 11:21 AM

The legal marijuana industry is booming, with the number of job postings for weed-related positions reportedly outpacing postings in the technology and healthcare industries, but no thanks to the administration of President Donald Trump which has dampened some of the enthusiasm.

According to data from the website ZipRecruiter, the total number of marijuana industry job posts increased by 445 percent in 2017 as more states legalize its use, compared to 18 percent the previous year.

In January, California became the largest state to legalize recreational marijuana use, as the state tries to tap into what is estimated to be a weed black market worth $13.5 billion, USA Today reported, citing figures from the cannabis financial analysis firm GreenWave Advisors.

CNN Money reported that nine states and the District of Columbia now offer marijuana for recreational marijuana use and 30 allow it for medical use, with more states planning to test the water.

"When we look at where opportunities in the cannabis industry are located, it's no surprise that the majority of jobs are concentrated in some of the states that first legalized marijuana," the ZipRecruiter study noted.

"ZipRecruiter data shows that the top five MSAs (metropolitan statistical areas) with the highest total number of job posts in 2017 were concentrated in Colorado, California, and Washington. When it comes to growth in this industry, we see the most significant growth in states that recently loosened their marijuana laws."

ZipRecruiter listed Los Angeles and San Francisco as the top markets for marijuana jobs, followed by Denver, Seattle, Miami, Portland, Oregon, Las Vegas, San Jose, Santa Barbara and Tallahassee, Florida.

BDS Analytics has estimated, according to CNN Money, that the industry owed $1 billion in state taxes in 2016, and another $1.4 billion for 2017.

"It's a great thing because the money was already being spent (in illegal sales); it's just now being taxed," said Tick Segerblom, state senator from Nevada, which has reaped $25 million in tax revenue since recreational sales started in July, per CNN Money. "And cops don't have to waste their time arresting users."

The growing industry, though, still remains under a dark cloud because marijuana is still illegal federally, CNN Money noted, and U.S. Attorney General Jeff Sessions recently rescinded the 2013 Obama-era Cole memo, guidance from then-deputy attorney general James Cole to federal prosecutors suggesting a hands-off approach to the state-legal industry.

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The legal marijuana industry is booming, with the number of job postings for weed-related positions reportedly outpacing postings in the technology and healthcare industries, but no thanks to the administration of President Donald Trump which has dampened some of the enthusiasm.
legal, marijuana, industry, boom
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2018-21-05
Monday, 05 February 2018 11:21 AM
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