Oregon’s cannabis industry is making a tremendous impact on the state’s economy, according to a new report.
The report was written by cannabis consulting companies New Economy Consulting and Whitney Economics.
The report is titled “Oregon Cannabis Jobs Report.” It uses data gathered from surveys that were given to dispensaries throughout the state.
Overall, the report said that Oregon’s cannabis industry is creating many new jobs for folks. And these jobs are generating a lot of income.
The report also points out that legal cannabis is making an impact beyond just the wages paid to people working directly in the industry.
The money generated by the cannabis industry is having a ripple effect across Oregon.
As people working in Oregon’s cannabis industry make more money, they’re able to spend it in other sectors of the state’s economy. Because of this, the legal marijuana industry is making an even larger impact on Oregon’s economy.
Here are some of the most significant findings from the report:
- Oregon’s cannabis industry has created 2,156 new jobs in Oregon.
- These jobs have generated $46 million in wages.
- The cannabis industry could have an overall economic effect in Oregon of $196 million by 2017.
- Dispensaries that sell recreational and medical marijuana have experienced more growth than dispensaries that sell only medical marijuana.
- The legal cannabis industry is projected to continue growing at a steady pace.
While the report pointed out some positive effects of the cannabis industry it also pointed out a few challenges facing people working in the cannabis space.
Probably the biggest challenge has to do with employee benefits.
Because it’s so hard for dispensaries to get bank accounts most of them, have to operate as cash-only businesses. That makes it more difficult for them to offer employees benefits.
Currently, only 28% of all dispensary employees get benefits.
Out of the dispensaries that responded to the surveys, 45% of them give benefits to full-time mangers. And 31% of them offer benefits to full-time budtenders.
“The key finding of this report is that the market is much stronger than might have been imagined,” the report said.
“As other sectors of the market . . . come online we expect to see a steady increase in the jobs created to sustain the new cannabis economy in Oregon.”