A Billion-Dollar Milestone: Missouri’s Cannabis Industry Flourishes
Last Tuesday, the Show-Me State reached a momentous milestone by surpassing $1 billion in legal cannabis sales, according to the Missouri Division of Cannabis Regulations. This achievement demonstrates the burgeoning growth and potential of the industry in Missouri.
Comparing Cannabis Sales: Missouri vs. Illinois
The sale of cannabis for recreational use among adults began on February 3rd. In the first three months since sales commenced, businesses sold $256.2 million for recreational use and another $94 million for medical use. For comparison, businesses in Illinois, a state with twice the population of Missouri, sold a total of $188.1 million worth of cannabis products in the first three months of legal sales to adults back between January and March of 2020.
Medical Cannabis in Missouri: A Brief History
The sale of cannabis products in Missouri for medical use only began in October 2020. Since then, the market has continued to grow, catering to the needs of patients requiring cannabis for various medical conditions.
Job Growth and Opportunities in the Cannabis Industry
According to a release from The Missouri Cannabis Trade Association (MoCannTrade), Missouri has exceeded 14,800 direct jobs in the cannabis industry. This demonstrates the positive impact of the industry on the state’s economy and job market.
A New Chapter: Expunging Past Offenses
Additionally, when Missourians approved adults’ recreational use of cannabis in November, it also became the first state to automatically expunge past, nonviolent marijuana offenses. MoCannTrade stated that since then, more than 31,000 offenses have been expunged. This move has been praised for providing a fresh start to those affected by previous cannabis-related convictions.
In conclusion, Missouri’s cannabis industry has achieved a significant milestone by reaching $1 billion in sales. This flourishing market has not only generated substantial revenue but has also created job opportunities and given thousands a second chance by expunging past offenses. With a bright future ahead, the Show-Me State’s cannabis industry will continue to grow and evolve.
