A new report says cannabis has contributed $43.5 billion to Canada’s gross domestic product and $13.3 billion to Ontario’s since recreational pot was legalized in October 2018.
The report from Deloitte Canada and provincial pot distributor, the Ontario Cannabis Store, says about $25.2 billion of that contribution comes from labour income and 151,000 jobs.
The report says for every dollar in revenue or capital expenditures, the industry adds about $1.09 to Canada’s GDP and $1.02 to Ontario’s.
For every million dollars in revenue or capital expenditure, the cannabis sector sustains about four jobs in Canada and Ontario each.
The research also estimates that the industry has generated $15.1 billion in Canadian tax revenues and $3 billion for Ontario.
Consumer purchases alone generated $2.9 billion in sales and excise taxes.
Comments