Business

The Cannabis Industry is Riding High

The cannabis industry is growing. As states move to legalize marijuana, farmers, distributors, and dispensaries are popping up all across the country to fulfill the insatiable appetite for this soon-to-be university accepted drug. In fact, one of the major arguments legislators are making is that job creation alone -- especially in a time where millions of Americans struggle with unemployment -- should justify this expansion.

Revelio Labs

3/29/21

The cannabis industry is growing. As states move to legalize marijuana, farmers, distributors, and dispensaries are popping up all across the country to fulfill the insatiable appetite for this soon-to-be universally accepted drug. In fact, one of the major arguments legislators are making is that job creation alone -- especially in a time where millions of Americans struggle with unemployment -- should justify this expansion.

But what does the workforce of this growing industry really look like? What kind of jobs are being created? Where is talent coming from? And how is the industry changing as this drug becomes more mainstream?

By tracking growth of top cannabis companies, we’re able to see how quickly this industry is growing:

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Below are the states where jobs are growing the most:

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And below are the changes in the industry in recent years:

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Takeaways:

  • Canopy Growth has seen the largest growth in recent years, though Green Thumb appears to be catching up.
  • The states where dispensaries have been legalized are, naturally, experiencing the largest job growth. We will continue to track these trends by state to see what state might be the next to legalize this drug.
  • As the industry matures professionally, we see a much larger focus on R&D and less on sales.

If you have any ideas of other metrics to track or would like to hear more, please feel free to reach out.

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