Investors have pumped tens of millions of dollars into the Oregon cannabis industry, according to a state senator who sits on the Oregon Marijuana Regulation Committee. He estimated that investments total between $60 million and $80 million.
And that’s only in the last six months, Sen. Floyd Propanski told Northwest Public Radio.
“The numbers we just received by phone says in the last six months there’s $60 million to $80 million have gone into startups,” Propanski said.
The senator didn’t elaborate, or discuss where most of that investment cash has gone, but at least one recipient has been the research-focused Phylos Bioscience.
And while many investors are focused on ancillary businesses that don’t touch cannabis – mainly because it’s considered less of a risk, since ancillary companies are safe from prosecution by the federal government – others are throwing millions behind growers and retailers as the industry continues to flourish.