As the West Coast matures from the early Green Rush and Midwest markets like Michigan and Illinois hit their stride with recent legalization, all eyes are on the Northeast as the sleeping giant that will radically change the national cannabis landscape for 2021 and beyond. Among the 40 million-plus residing in the tri-state area between New York, New Jersey, and Pennsylvania, the East Coast offers a monumental competitive advantage with substantial opportunities for new players to make their mark as soon as the industry is given the green light to move forward—which is only a matter of time.
“There is no question that a lot of states that were sitting on the fence on adult-use legalization will now turn to it as they look for tax revenues,” says Joe Bayern, President of CuraLeaf (OTC:CURLF).
Bayern points to New Frontier Data that estimates that if marijuana were legalized today, roughly 782,000 new jobs would be created, estimated to grow to 1.1 million by 2025. Federal legalization, it is estimated, would generate $131.8 billion in federal tax revenue between 2017-2025.”