Economic Impact Analysis Released
Today, the BCSCPP released an economic impact analysis that shows the craft cannabis industry in British Columbia and Western Canada could create tens of thousands of direct and indirect jobs.
To review the economic impact analysis, please click here. Here is a story on the analysis posted today by Vancouver Sun.
Among other things, the report includes a series of conclusions on the potential of the legal craft cannabis sector. The conclusions include:
Transforming as few as 15% of medical cannabis growers into the recreation marketplace, with the small production and processing limitations currently in place, would result in $3B in direct economic impact and 24,000 jobs across rural BC and Western Canada.
Increasing micro-production and processing limits as proposed in the GTL Discussion Paper and Consultation Report would nearly double the economic impact to $5.8B in direct economic impact and over 40,000 jobs across rural BC and Western Canada.
With ongoing liberalization efforts worldwide, Canada could leverage its position as a premiere producer (especially in BC) to build a large craft cannabis export industry.
The analysis has been shared with the Rural Economic Development Minister and the Innovation Minister. Plans are underway to meet with both Ministers and other government officials to discuss recommendations on how they can support the development of a vibrant craft cannabis community.
Please share your thoughts and remember to register for the regional meetings that are starting in Gibson on July 8th.
Read more in the BCSCPP’s newsletter.