Shifting cannabis production from BC to Ontario
British Columbia stands to lose a $2 billion market if legal marijuana production space shifts from BC to Ontario
By Aaron Bockner
There have been few attempts to estimate the value of the cannabis market in BC or elsewhere in Canada. A 2004 appraisal found that the BC cannabis industry had an annual value of roughly $2 billion. In 2012, another study approximated that total domestic consumption in BC was worth $407 millionper year. On a national scale, a recent article indicates that a legal cannabis production market could be worth $5 billion.
These figures are significant, particularly since the profits made on illegal cannabis sales are tax-free, with criminal organizations controlling up to 85% of the market in some regions of the country. Furthermore, such criminal groups frequently use the unlawful proceeds to fund other illicit activities, such as importing more dangerous drugs, committing violent offences, and money laundering.
Historically, BC...
This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.
420 Intel is Your Source for Marijuana News
420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.
420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.
Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.
You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.
Follow us on Instagram
Connect with us on Linkedin