The United States cannabis industry is increasing in size year after year, and it is creating a number of jobs in the process. Leading cannabis jobs platform Vangst, in conjunction with Whitney Economics, estimates that the legal cannabis industry now supports 440,445 full time-equivalent cannabis jobs in the United States.
More and more colleges and universities are offering courses, programs, certificates, and degrees in the field of cannabis, with Stockton University in New Jersey being one example. Stockton University offers a degree program in hemp and cannabis business management.
“At Stockton, we’ve actually offered a minor in cannabis studies since fall of 2018. That program was tremendously successful. We started with 24 students and in three years, that enrollment grew by nearly 500 percent. And, to date, we’ve had roughly 70 graduates and many of them are employed in the New Jersey cannabis industry.” stated Stockton University cannabis professor Rob Meija according to local reporting by Fox29.
The first legal purchase of adult-use cannabis in New Jersey occurred on April 21, 2022. Since that time, New Jersey’s cannabis industry has increased in size and value to a considerable extent. In addition to recreational sales, New Jersey also permits medical cannabis sales.
“In 2023, New Jersey saw cannabis sales of more than $800 million. With new local cultivators and manufacturers beginning operations, we expect to reach $1 billion in 2024. Ancillary services like accounting, marketing, construction, security, legal services, and real estate that support the industry may generate $1.5 to $2 billion in taxable revenue for opted-in municipalities.” the New Jersey Cannabis Regulatory Commission stated in a news release that celebrated the two year anniversary of recreational sales in the state.
Total legal cannabis sales in the United States are expected to reach $31.4 billion in 2024 according to a recent analysis by Whitney Economics. Whitney Economics also projects the following legal cannabis sales figures in the United States for the coming years:
- 2024: $31.4 billion (9.1% growth from 2023)
- 2025: $35.2 billion (12.1% growth from 2024)
- 2030: $67.2 billion
- 2035: $87.0 billion
The emerging legal cannabis industry in the United States is projected to add roughly $112 billion to the nation’s economy in 2024 according to a newly released analysis by MJBiz Daily. The projection is part of the company’s 2024 MJBiz Factbook.
“The total U.S. economic impact generated by regulated marijuana sales could top $112.4 billion in 2024, about 12% more than last year,” MJBiz stated in its initial reporting.