Missouri Cannabis Sales Projected to Reach a Billion Dollars by 2026
Legal cannabis means big money and economic stimulation for Missouri. Over 160,000 patients in the state are in possession of their medical marijuana card, and that number continues to grow. Recent projections predict continued growth for the state’s cannabis industry, and that means great things all-around for Missouri’s economy.
Missouri Poised to Become One of the Top 10 States for Cannabis
According to the cannabis business website Green Entrepreneur, Missouri’s growth is on-track to reach one billion dollars by the year 2026. Revenue of that level will make Missouri among the top ten states for cannabis earnings, and that is with its current status as a medical marijuana-only state. If legislative attempts to pass recreational marijuana in Missouri are successful, it could mean a much bigger boost to the state economy.
Missouri Economy Benefits Big From Medical Marijuana Revenue
Missouri benefits all-around from the increased revenue brought in by medical marijuana. The state economy has already been infused with hundreds of millions of dollars from cannabis sales since the first Missouri dispensaries opened their doors back in October 2020. This money benefits more than just those in the marijuana industry.
Cannabis entrepreneurs and those employed in the marijuana industry have to spend their paychecks somewhere. The funding their cannabis employment provides is infused into the economy as they shop, pay for housing, purchase cars, gasoline, groceries, and more. The additional funding they have as a result of this growing industry allows them to spend more on recreation and entertainment. Each industry their money goes to benefits from cannabis, even if they don’t directly have anything to do with the marijuana field.
More Marijuana Revenue Means More Jobs Across the Board
As the demand for cannabis increases, so does the demand for employees in the industry. As of last year, Missouri’s medical marijuana industry employed more than 5,000 state residents, allowing them to make a comfortable living in an industry where they are helping others get relief. The job satisfaction and opportunities are so high in the cannabis industry that many people are leaving their jobs for careers in marijuana.
In addition to those jobs, the Missouri Cannabis Trade Association reports that an additional 3,800 indirect jobs were created in industries that were bolstered due to those with cannabis-related income spending their earnings on “necessities such as housing, transportation, entertainment, and more.”
Enterprising Entrepreneurs See Big Opportunities in Cannabis
With the predicted exponential growth of cannabis in Missouri, many entrepreneurs are putting their hat into the ring and starting their own businesses, such as dispensaries, growing and cultivating facilities, or packaging and processing plants for a wide array of Missouri cannabis products.
Because marijuana is still illegal on the federal level, all the state’s cannabis products must be grown, processed and shipped from within Missouri. It remains illegal to transport marijuana across state lines. That means there are plenty of opportunities for Missouri entrepreneurs to get in on the industry during the early stages.
For those who aren’t sure where to start, there are organizations dedicated to helping novice business owners get ahead in the cannabis field, such as JAINE, which focuses on empowering women business owners in the marijuana industry. For those seeking an opportunity to create a sustainable business, cannabis is going to be here for the long haul, and the opportunities are vast.
Veterans Receive Funding From Missouri Medical Marijuana
One of the largest groups who stand to benefit from Missouri’s growing cannabis industry are veterans. We’re not just talking about the relief that cannabis provides many veterans who are dealing with PTSD and chronic pain. We’re talking about millions of dollars in direct funding provided to veterans programs as a result of the state’s medical marijuana tax.
Missouri’s state constitution, in Article XIV, requires medical marijuana products that are sold in state dispensaries to be taxed at a rate of four percent. Those taxes, after operating expenses, are designated to go directly to the Missouri Veterans Commission. If the state’s cannabis industry reaches the billion dollar mark as predicted, that will mean that cannabis has provided forty million dollars in resources to our veterans.
New Educational Programs Prepare Students for Future Careers
As Missouri’s medical marijuana industry expands, the need for employees will also grow. As these positions become more competitive, prospective employees may want to plan ahead and learn as much about marijuana as they can. After all, knowledge is power, and may provide a leg up in the job market.
Students who are entering college are taking advantage of new cannabis-focused educational programs which are popping up at universities and learning centers across the country. You can find university courses and certificate programs including, but not limited to medicinal plant chemistry, cannabis law, and even earn your bachelor’s of science in a program that focuses on marijuana physiology and growth.
Nothing Beats Relief
If you are ready to join the more than 160,000 Missourians currently experiencing the natural relief that cannabis provides, you’ll need your medical marijuana card. If you don’t have your card yet, we can help you with that. Our medical staff is standing by to take you through a quick and easy evaluation to see if you qualify. Schedule an appointment with a marijuana doctor online by CLICKING HERE, or give us a call at (877) 303-3117 to talk to a patient support representative.
Doctors Who Care.
Relief You Can Trust.
At Missouri Marijuana Card, our mission is helping everyone achieve wellness safely and conveniently through increased access to medical marijuana. Our focus on education, inclusion, and acceptance will reduce the stigma for our patients by providing equal access to timely information and compassionate care.
Call us at (877) 303-3117, or simply book a medical marijuana evaluation to start getting relief you can trust today!
Check out Missouri Marijuana Card’s Blog to keep up to date on the latest medical marijuana news, tips, and information. Follow us on Facebook, Twitter, and Instagram to join the medical marijuana conversation in Missouri!