Report: Oregon marijuana industry has $1.2B economic impact

Oregon’s cannabis industry has produced an economic impact of more than $1 billion, according to a new report.

The report, by economist and marijuana business insider Beau Whitney, found that the Oregon cannabis market created more than 12,500 jobs with an average wage of $12.13 an hour, which translates into roughly $1.2 billion in economic activity for the state.

The job figure is only for plant-touching companies, such as retailers and growers, and doesn’t include ancillary marijuana businesses, such as attorneys or security services.

“Cannabis is a job-creation machine,” Whitney said in a news release.

He noted that through Feb. 21, there were 917 licensed recreational marijuana businesses in Oregon, with another 1,225 business permit applications pending.

Such information could be utilized by industry advocates to bring more political allies into the legalization camp, given that jobs and the economy are generally a bipartisan priority.

Several industry experts have even posited that marijuana-related economic benefits could be a talking point to persuade the Trump administration to support national reforms that will bolster the industry down the road.

In another example of the marijuana industry’s fiscal benefits, a 2014 study found that two Denver cannabis retailers alone had a $30 million economic impact on Colorado.

4 comments on “Report: Oregon marijuana industry has $1.2B economic impact
  1. Edgar Winters on

    We need to add the Hemp Farmers and Processors as a Cannabis Economy and jobs as well, here in Oregon. No Data yet, but I know it can be a $Trillion dollar business, by 2020, in all 32 States that are cultivating Hemp.

    In Oregon I know of 400 jobs that it has created since last year. Oregon spent around 4 million dollars in products sales along this past year.

    1250 acres worth of ihemp products, were produced by 76 entities along in Oregon this past year, from 11 farmers in 2015.

    Trump should look closer than past his nose, on this one. “Jobs Jobs Jobs” he should be proud of our Farmers, for helping our Green Economy flourish on all of the Cannabis’s being cultivated, here in Oregon and the other 32 states.

    Trump should be saying “Hemp Up America Again”

    Reply
    • Beau Whitney on

      Good input. I can research this as well. There are some very solid, professional hemp resources here in Oregon

      Reply
      • Eric01 on

        Agreed! If looked at as best source of natural fiber for textiles, then that must be factored in for it’s true economic impact.

        Reply
  2. Vickie Canfield Peters on

    Mr. Whitney,
    The International Society of Weekly Newspaper Editors (ISWNE) is holding a conference in Portland next July. One of the subjects on the schedule is marijuana. Would you be willing tos peak to our group about the economic impact of the industry?

    Reply

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