Chart: US cannabis industry’s economic impact could hit $130 billion by 2024
U.S. Cannabis Industry Total Economic Impact: 2019 - 2024Marijuana Business Factbook - Marijuana Business Daily

Chart: US cannabis industry’s economic impact could hit $130 billion by 2024

Published July 21, 2020 | By Eli McVey

American marijuana businesses could pump up to $130 billion on an annual basis into the U.S. economy by 2024, a staggering figure that highlights the true reach of the nation’s cannabis industry.

Estimates published in the newly released Marijuana Business Factbook show the total economic impact of legal cannabis sales increasing from $38 billion-$46 billion in 2019 to $106 billion-$130 billion by 2024 – a 181% increase.

By comparison, the $130 billion figure is similar to the 2019 gross domestic product of Nebraska, which stands at $129 billion, according to the U.S. Bureau of Economic Analysis.

The estimates reflect the marijuana industry’s rapid transition from an illicit market to a mainstream economic juggernaut, generating scores of new jobs, providing fresh business opportunities and creating significant ripple effects across the country.

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