Billion$ and Thousands of Jobs Go Over the Border, Feds Yawn
When General Motors announced it was shuttering five automobile manufacturing plants in the US last month, one would think the company had launched a sneak attack on the US economy. (Oh look, it's December 7th, aren't we clever?)
The President unleashed a Tweetage (that's Tweet + Barrage people, try to keep up) at Mary Barra and threatened to take away the company's subsidies. At which we scratched our heads... "One of the world's largest companies still gets subsidies...?"
All the while, our northern neighbors have been reeling in American investor dollars by the boat load, and are also clamoring for workers to fill all the job openings.
The Marlboro Man is in (cigarette giant Altria invested $1.8 Billion in Cronos Group last week), Corona is in (beverage giant Constellation Brands invested $4Billion in Canopy Growth in August).
And while both of those cannabis giants trade on the NY Stock Exchange, Forbes reports that many others are seeking their fortunes in Canada; MedMen, Cresco, and MJardin, to name a few, including Acreage Holdings which counts former House Speaker John Boehner, former Massachusetts Governor William Weld, and former Canadian Prime Minister, on its board of directors.
Jobs? "The marijuana sector will create roughly 120,000 jobs across Canada after the first year of legalization", according to Alison McMahon, founder and CEO of human resources firm Cannabis at Work, in a phone interview with BNN Bloomberg
According to Deloitte, the Canadian cannabis market is expected to be a $22.6 billion industry and the next few months before legalization on July 1st are expected to see a hiring frenzy for everything from growers and trimmers to marketing and tech experts."
Image source: Ottawa Life http://www.ottawalife.com/article/cannabis-across-canada-a-province-by-province-breakdown?c=1