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Home 🌿 Medical Cannabis News 🌿 Industrial Sector Gets High on $2.7B Marijuana Industry 🌿Industrial Sector Gets High on $2.7B Marijuana Industry
The country’s legal marijuana industry more than doubled in size in 2014, to $2.7 billion, and the commercial real estate world is starting to take notice. Reports on the industrial sector attribute extra-strong demand in places such as Denver to the growing, storage and distribution of the plants.
Investment banking firm Chardan Capital Markets recently rated annual marijuana consumption at up to $60 billion, with growth of about 8 percent annually, based on national drug data. Colorado became the new epicenter of the marijuana industry last year, recording about $805 million in combined retail and wholesale sales, according to a new report by the ArcView Group, which provides data on the legal cannabis industry. The company, a proponent of the industry, creates data on the sector for new investors. Troy Dayton, CEO of ArcView, says investors nationwide have turned their attention to marijuana as a future explosive growth market.
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