Report: Marijuana industry reaching into the billions

Marijuana industry could reach $8 billion by 2018.

NORTHAMPTON, Mass. (WWLP)-  A planned medical marijuana dispensary is proposed to go into a building on Conz Street in Northampton is currently on hold. But despite the fact that the only facility in western Massachusetts currently in the running for a medical marijuana dispensary is on hold, business experts are arguing that the medical marijuana industry in the United States is reaching into the billions.

The annual report from Marijuana Business Daily shows that sales through dispensaries and retail stores are likely to reach nearly $8 billion over the next four years. Medical marijuana use is currently legal in 23 states and the District of Columbia, and is legal for recreational use in Washington state and Colorado, and some counties in California.

The licensing process for the Northampton dispensary has been disrupted because the executive director reportedly lied on the application about his college degree, according to the Massachusetts Department of Public Health.

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