While there are many social justice benefits to legalizing recreational cannabis, the economic benefits cannot be overlooked. Studies show that Washington and Oregon had 22,952 and 11,295 full-time cannabis jobs, respectively. This is obviously a huge benefit to any economy, as nationwide it is estimated that the cannabis industry worth $10 billion dollars a year. Estimates suggest that New Jersey’s cannabis industry could easily be worth $1 billion per a year, which will reap considerable tax benefits for the state.
NJ Advance Media recently sent a reporter to Oregon and Washington to explore the economic benefits those states have experienced as a result of full legalization, specifically in the context of job growth.
To read NJ Advance Media’s story about the types of jobs that legalization brings, click here.
Pashman Stein Walder Hayden is carefully monitoring developments in New Jersey and federally with respect to marijuana legislation and will be available to help its clients navigate the sure-to-be complex regulatory framework of this potential business frontier.
Please contact CJ Griffin at email@example.com or 201.270.4930 for further information.