Canada's Legalization Of Cannabis Has Contributed $43.5 Billion To National GDP

Time for the US to do the same.

LTC Eugene Chu
..."According to a Deloitte Canada report, since Canada has legalized recreational cannabis in 2018, the industry has contributed $43.5 Billion To Canada's National GDP.

The industry has generated $11 billion in sales nationwide and made $29 billion in capital expenditure. Furthermore, the adult-use recreational cannabis industry has created 98,000 jobs and put $15.1 billion into government coffer.

The report shows that the industry adds around $1.09 to Canada's GDP for every dollar for revenue and capital expenditure. The cannabis sector sustains around four jobs for every million dollars in revenue.

However, not much has changed about diversity within the industry. Before legalization, almost all federally licensed cannabis producers were managed by White men. Deloitte surveyed 700 directors and executives from more than 200 firms. The findings show that 72% were White men, 14% were men belonging to minority groups, 12% were White women, and 2% were women belonging to minority groups, including South Asian, East Asian, Indigenous, Arab, Hispanic, and Black individuals.

Such findings are in line with a 2020 study conducted by the University of Toronto and the Center on Drug Policy Evaluation which found that cannabis industry leaders are primarily White (84%) and men (86%), despite the fact that minority groups have been disproportionately negatively impacted by cannabis prohibition in Canada, the United States, and elsewhere."...