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 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.