Marijuana Business Factbook 2019

xii Marijuana Business Factbook 2019 Executive Summary © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. 4. EXPANDING CAREER OPPORTUNITIES: MORE FULL-TIME JOBS THROUGH 2023 Sustained growth continues to fuel rapid job expansion across the cannabis industry. As sales growth continues, especially in the recreational market, the industry is expected to add roughly 235,000 full-time jobs between now and 2023. This represents a compound annual growth rate of 22% and positions the industry to provide 475,000 full-time jobs by the end of 2023. Even though retail sales are beginning to slow in some mature markets, the launch of lucrative, new medical marijuana markets along with the growing acceptance of legal cannabis will continue to drive job growth upward. By 2023, the cannabis industry could provide the equivalent of 475,000 full-time jobs throughout the United States ― or about the same number of active, full-time members of the U.S. Army. CHART: U.S. Cannabis Industry Full-Time Employment Estimates: 2018-2023 Note: Cannabis industry employment figures calculated using number of full-time equivalent workers that support the marijuana industry. Source: 2019 Marijuana Business Factbook © 2019 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved. U.S. Cannabis Industry Full-Time Employment Estimates: 2018 - 2023 2018 2019 2020 2021 2022 2023 0K 100K 200K 300K 400K 500K Total Number Of Jobs In Cannabis Industry 130,000 - 160,000 175,000 - 215,000 245,000 - 295,000 300,000 - 370,000 345,000 - 425,000 385,000 - 475,000