Medical Cannabis Projected to Generate Over $925 Million in Economic Benefits for Nebraska Communities Through 2030

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Oct 09, 2024, 16:00 ET

Nebraska is projected to register over 56 thousand cannabis patients by the end of 2028 and over 93 thousand patients by the end of 2030

LINCOLN, Neb., Oct. 9, 2024 /PRNewswire/ -- Regulating medical cannabis will benefit Nebraska patients and generate over $925 million in new economic activity for local communities according to research from Vicente LLP, a nationally-recognized law firm and leader on cannabis law and policy. Together, Initiative 437 and Initiative 438 will establish legal protections for patients and their caregivers and create a safe and regulated medical marketplace for Nebraska patients.

Nebraska Families 4 Medical Cannabis (NF4MC), led by a coalition of families, patients, state senators, and other allies, is working with nationally renowned experts to quantify the economic benefits of legal, regulated medical cannabis in the state. "If medical cannabis sales begin in mid-2026, Nebraska has the opportunity to generate over $925 million in new economic activity through 2030," stated Andrew Livingston, Director of Economics and Research at national cannabis law firm Vicente LLP. Mr. Livingston has spent 10 years analyzing economic activity in the cannabis industry and has previously published reports on behalf of cannabis campaigns and governments in Michigan, Minnesota, Ohio, Oklahoma, and Vermont. Livingston added, "Economic activity generated by legal medical cannabis sales supports local workers and their families who in turn spend their paychecks in their communities, benefiting local businesses across the state."

Projections for Nebraska's medical cannabis market incorporate patient enrollment from similar programs in Arkansas, Missouri, and South Dakota. When these population-adjusted registration rates are applied to Nebraska, the state is projected to register over 56 thousand cannabis patients by the end of 2028 and over 93 thousand patients by the end of 2030. These patients are estimated to generate over $90 million in sales in 2028 and more than $152 million in sales in 2030. Through 2030, Nebraska is projected to sell $440 million in medical cannabis resulting in more than $925 million of new economic activity.

"Medical cannabis is not just a lifeline for patients, Initiatives 437 and 438 will benefit local communities throughout Nebraska, generate hundreds of millions in economic activity, and open new business opportunities across the state," said NF4MC Executive Director Crista Eggers. "Nebraska voters are ready to come together and join the majority of states by regulating cannabis for medical purposes," said Eggers.

CONTACT:
Andrew Livingston
[email protected]
720-214-9354

Crista Eggers
[email protected]
402-651-3495

SOURCE Vicente LLP