NEW YORK, January 12, 2018 /PRNewswire/ —
According to recent data provided by Arcview Market Research, in partnership with BDS Analytics, the total economic output from legal cannabis will grow 150% from $16 billion in 2017 to $40 billion by 2021. The report indicates economic multiplier effects through which US consumer spending on legal cannabis in 2021 of $20.8 billion will generate $39.6 billion in overall economic impact, 414.000 jobs, and more than $4 billion in tax receipts. Arcview also estimates that the legalization of adult-use (recreational) sales in California, will lead to the creation of nearly 99,000 industry jobs in the state by 2021, about a third of all cannabis jobs nationwide. AmeriCann Inc. (OTC: ACAN), Kush Bottles, Inc. (OTC: KSHB), Canopy Growth Corporation (OTC: TWMJF), India Globalization Capital, Inc. (NYSE: IGC), Lexaria Bioscience Corp. (OTC: LXRP)
California’s new recreational cannabis laws went into effect this month. New Frontier Data CEO Giadha Aguirre De Carcer, explained, “California offers the perfect example of why it is so important to understand trends in consumer behavior. The state’s legal (cannabis) industry is forecast to grow from $2.8 billion in 2017 to $5.6 billion in 2020. That spending will be increasingly directed at products and retailers who understand and serve the market’s evolving tastes and preferences. The market is changing, and the most successful operators will be those who adapt most quickly to the change.”
AmeriCann Inc. (OTCQX: ACAN) yesterday announced that, “CEO Tim Keogh is a featured speaker at the 3rd Annual Canna East Compliance Summit 2018 to be held in Orlando, FL, on January 17-19, 2018.
The Canna East Compliance Summit brings leading state regulators and policymakers together with cannabis operators, testing labs, equipment and technology providers. Mr. Keogh will be discussing best manufacturing practices for cultivation and processing and AmeriCann’s state of the art facilities.
Mr. Keogh was recently selected by Marijuana Business Daily’s “People to Watch in 2018.” Marijuana Business Daily is the leading source of financial, legal and other business news for the cannabis industry. Mr. Keogh was acknowledged alongside a small group of notable industry executives and three other CEO’s of publicly traded companies including Bruce Linton of Canopy Growth (WEED), Rob Sands of Constellation Brands (STZ), Jim Hagedorn of Scotts Mircle-Gro, (SMG).
AmeriCann is developing the Massachusetts Medical Cannabis Center (MMCC), a state-of-the-art cannabis cultivation and processing development in the midst of the rapidly growing Massachusetts medical cannabis market. The MMCC project