Agoracom Blog

Legal Marijuana is Now the Fastest Growing Industry in America

Posted by AGORACOM-JC at 1:16 PM on Tuesday, January 27th, 2015

Legal Marijuana is Now the Fastest Growing Industry in America

Indulging in the green is no longer just a cocktail conversation – it’s big business.

According to researchers from cannabis industry investment and research firm The ArcView Group, the legal marijuana market in the United States ballooned to $2.7 billion last year, growing 74 per cent from 2013 to become the fastest-growing industry in the nation.

That’s a lot of weed sales – and a major boost to the economy business leaders are all of a sudden taking very seriously.

Just ask former US Senator Mike Gravel.

What’s especially impressive is only four states have legalized adult cannabis use and sales, with another eight expected to jump on board by the end of next year.

If legalization is eventually enacted across all 50 states, the legal marijuana industry is projected to become larger than the organic food industry.

And while the U.S. is blazing the trail, we can probably expect a budding cannabis business to boost Canada’s GDP in the near future – Trudeau 2015, anyone? After all, everything that happens in the U.S. eventually becomes big North of the Border.

Who would have guessed that the most effective recovery from the next recession could be to smoke ourselves out?

Certainly not what we learned in economics class.


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