Missouri's Medical Marijuana Industry Keeps Growing - What That Means for the Economy
The number of Missouri medical marijuana patients more than doubled over the past year, as the number of state residents with a medical marijuana card went from 76,734 in February 2021 to 165,763 by January of 2022. This rapid growth means many more Missourians are benefitting from the natural relief that cannabis provides. It’s also an indicator that more jobs, revenue, and business opportunities are on the way for residents of the Show-Me-State.
Medical Marijuana Sales Topped $25 Million in January!
The medical marijuana industry continues to grow in Missouri; medical marijuana sales are increasing by leaps and bounds. Last December saw more than $29 million dollars in state cannabis sales - a new yearly record that brought in more than $200 million.
Cannabis has a positive impact on Missouri’s economy, with more than $25 million in sales in the month of January - the second highest grossing month since medical marijuana was legalized. If current sales trends continue, the state is poised to see more than $300 million in medical marijuana sales this year.
More Medical Marijuana Cards Means More Jobs
Cannabis sales do more than provide relief to a large part of Missouri’s population. They provide jobs to thousands of people. In the first year of legalization, the medical marijuana industry employed more than 5,000 Missourians in dispensaries, cultivation facilities, and in cannabis support positions.
As the demand for cannabis products increases, it’s expected that thousands of more people find themselves working jobs related to medical marijuana. In addition to stable incomes, cannabis jobs provide a strong level of work satisfaction and camaraderie. Many Americans leave their current positions for jobs in the marijuana industry.
Increased Medical Marijuana Revenue Helps Missouri Veterans
As cannabis sales in the state increase, the benefits available to veterans grows. Many veterans benefit from becoming medical marijuana patients, as those who served in the armed forces have a higher chance of experiencing chronic pain and PTSD than civilian citizens. Many find relief for those conditions with medical marijuana, but even veterans who aren’t cannabis patients stand to benefit from medical marijuana sales.
Article XIV of Missouri’s state constitution, which was adopted in September of 2018, requires that all medical marijuana products sold in state dispensaries be taxed at a rate of four percent. Those taxed dollars are all designated to go to veterans programs. With a projected revenue of over $300 million this year, that means $12 million in funding will go to programs that help Missouri vets.
In the 2021, medical marijuana taxes helped veterans by funding veterans health and safety initiatives and helping to fund a memorial wall as part of the Jacksonville Veterans Cemetery. According to a study by the University of Missouri, there are approximately 425,000 veterans in Missouri, so just over 9% of the state’s adult population benefits from funds derived from cannabis sales.
A Boom for Cannabis Entrepreneurs
As the number of marijuana patients in Missouri increases, opportunities for cannabis entrepreneurs will flourish at an unprecedented rate. Missouri’s cannabis patients need their supply of medicine, so the state needs more dispensaries, cultivation facilities, and businesses that support cannabis, such as staffing and security agencies.
We also expect to see a boom in the area of craft cannabis, which allows a more diverse array of artisan medical marijuana products, such as edibles, beverages, tinctures, and more, to hit dispensary shelves. Missouri’s cannabis industry is wide-open for enterprising medical marijuana pioneers.
Increased Medical Marjuana Revenue Means Economic Stimulus
The hundreds of millions of dollars Missouri expects to see this year from medical marijuana will benefit the state economy as a whole.
As businesses expand, so will the number of individuals employed in cannabis-related jobs. Their income will then be spent at other Missouri businesses, causing a wide range of commerce to be infused into the state economy, resulting in business expansion across Missouri. As this happens, jobs outside of the medical marijuana industry will be created as a direct result of cannabis sales!
You don’t have to be a medical marijuana patient to benefit from marijuana sales. During a time of so much uncertainty, medical marijuana is providing security, stability, and relief for Missouri. Here’s to a year of continued growth.
Don’t Miss Out on Relief
Are you ready to join the growing number of Missouri residents getting the natural relief of cannabis? All you need is a Missouri medical card, and we are here to help! Our physicians are 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!
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