BY: Chronic Staff | Recent News | October 17, 2021
Recreational cannabis is legal in 19 states and the District of Columbia. It may be less than half of the states that make up the country. It feels that it may be enough to keep cannabis retailers and their contracted growth facilities busy during pandemics when the demand is higher than usual.
In New Jersey alone, greenhouses grew more than double this year with a sale of 20,000 pounds of cannabis to retailers in the state.
“While plenty of cannabis companies are rushing to meet the tidal wave of demand in Pennsylvania, Maitri has planned to satisfy the state’s medical marijuana market.”, Pittsburgh-based Maitri CEO Jimil Wilson said.
This is because marijuana is not legal and cannot cross the state lines which forces the 10 progressively minded states to grow those coveted flowers.
Some companies are turning to unusual sites like the industrial complex that formerly housed the pharmaceutical giant Merck. It was transformed into a marijuana growth hub. It was transformed into a growth hub. Now, the decades-old farm is growing thousands of medical marijuana plants in the state's first cannabis-specific greenhouse, ironically enforcing New Jersey's reputation as the Garden State in a big way.
With two-thirds of the tristate area (New York and New Jersey) legally dispensing, the potential market is beyond $6 billion within 5 years. In other words, botanically minded entrepreneurs' dreams are about to come true and seemingly never-ending business opportunities such as public health crises. Recreational cannabis continued to prosper with sales in the United States at $17.5 billion in 2020 alone.
To keep up with the demand, farms are being utilized in other states that can grow particular strains. The massive growth of facilities is growing fast that impacts retailers and growth farms that force them to catch up and if supply and demand have distinct situations, it is that of marijuana.