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GTSO: Experts Predict Oregon Cannabis Industry Will Be Worth Nearly $500 Million in Five Years

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Submitted by Marijuana News on Tue, 08/04/2015 - 08:44

SAN JOSE, Calif., -- As Green Technology Solutions, Inc. GTSO, +5.50% readies new products and services for entry into Oregon’s adult-use cannabis market, experts now say that the state’s cannabis industry could be worth nearly $500 million by 2020.

Inc. reported last week that New Frontier, a big-data provider for the cannabis industry, predicted that Oregon will have generated $257 million in cannabis sales by the end of the year. The company forecasts that figure to rise to $464 million by 2020—a number rivaling the $700 million brought in last year by Colorado, the top cannabis market in the U.S.

“Low barriers to entry into this marketplace are what we believe will drive Oregon’s rapid rise,” said GTSO CEO Wallace W. Browne. “Low fees and taxes are going to make this state a very friendly environment for cannabusinesses.”

GTSO has big plans for Oregon and other top...

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URL: 
http://www.marketwatch.com/story/gtso-experts-predict-oregon-cannabis-industry-will-be-worth-nearly-500-million-in-five-years-2015-08-04

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