Cannabis: The Next Big Cash Crop For Illinois

ILLINOIS:  Legally and economically, Colorado and Washington are turning over a new leaf for 2014. A marijuana leaf, that is, which could mean a lot of money flowing into each state’s economy.

With full adult legalization underway since Jan. 1, Steve Berg, editor of  “The State of Marijuana Markets Second Edition,” projects sales could reach between $800,000 and $1 million in Colorado by the end of the year.

Sales in Washington are projected to reach about $316 million by the end of this year as well.

Although the licensing for medical marijuana dispensaries just began in Illinois, market researchers are comparing the state to Colorado to see if marijuana could be a cash crop for southern Illinois.

“[The] legal marijuana industry is potentially profitable depending on the skill of the business operators and the regulatory environment that are involved,” Berg said.