Medical Cannabis Still Fueling the Green Rush

With a projected $1.3 billion – $1.5 billion in sales in 2013, the largest, legally operating sector within the green rush is the medical cannabis community.

The deregulation which began in 1998 and has since spread as a total of 18 states and Washington D.C. have begun allowing medical cannabis usage has already created thousands of jobs all across America.

Unlike the medical sector, the recreational cannabis industry is still in its infancy with Colorado and Washington just beginning to lead the charge for America, as the two states grapple with implementing a stable ecosystem and infrastructure.

Local Businesses

A large network of grower and dispensaries has emerged, putting countless Americans to work growing and selling cannabis in accordance with state regulations to meet the needs of patients. Many growers also act as breeders, continually mixing different strains to create new breeds which offer unique experiences and treatments in order to meet the diverse needs of cannabis patients. Some breeders also sell their seeds or clones of their strains to patients looking to grow their own medication. Creating medibles – or edible goods infused with cannabis – is also a lucrative trade carried out on a grassroots level all across America.

Despite the fact that most medical cannabis companies are local – serving their customers in less than a handful of locations – some still employ a substantial number of Americans. Tripp Keber says the medibles company he founded, Dixie Elixirs, employs more than 10,000 employees to meet the needs of their customers in Colorado. As successful companies expand and new ventures are launched, even more jobs will be created to meet the growing needs of patients.

Corporate Cannabis

But do not be fooled, corporate America is competing striving to cash in on the green rush as well. Successful small, local businesses are being purchased en masse by publicly traded companies looking to vary their business portfolio so that their stockholders can benefit from the green rush. Venture capitalists are starting to fund innovative business ventures, at times creating a parent company to unite all of their subsidiaries with a common corporate mission statement and structure. Additionally, innumerable scientists are already employed searching for innovative methods of using cannabis as well as creating new treatment options for the ever-growing list of medical conditions treatable with cannabis.

Outside Industries Capitalizing on the Green Rush

But the economic boom of the medical green rush does not stop within the medical cannabis community alone. Professionals in seemingly unrelated industries such as lawyers, business consultants and security, just to name a few, are beginning to cater directly to the medical marijuana community with their services and expertise to cash in on the green rush. In 2013 alone the industry is expected to grow by 10 to 15 percent, making it an attractive trade to expand into especially for companies who can do so without having to fear the interference by the federal government which has stunted industry growth in many ways.

Future Potential

Spreading deregulation on a state basis and growing acceptance of cannabis as a medical treatment is expected to create substantial growth and MMJ Business Daily estimates it could become a $4.5 billion industry by 2019. And if  – or as the continuously optimistic side wants to write – when the desires of special interest groups are finally considered less important than needs of Americans suffering from medical conditions and marijuana is no longer classified as a Schedule I Substance the potential within this industry will be limitless.