Cannabis Industry Boosts Economic Recovery Amid Pandemic in Ontario
Ontario's cannabis industry thrives during the pandemic, supporting economic recovery and job creation with over 1,000 shops now surpassing LCBO outlets
Key Points
- 1Cannabis shops in Ontario were deemed essential during the pandemic
- 2Kingston has 17 cannabis stores, with room for more growth
- 3Cannabis industry supports over 27,000 retail jobs in Ontario
- 4Over 1,000 cannabis shops now operate in Ontario, exceeding LCBOs
- 5Cannabis sector plays a significant role in economic recovery
The cannabis industry in Ontario has thrived during the COVID-19 pandemic, emerging as a key player in economic recovery efforts. Despite the challenges faced by many sectors, cannabis stores were deemed essential services, allowing them to remain operational. Jannawae McLean of Calyx & Trichomes in Kingston highlights that their store achieved top sales even during the pandemic, underscoring the sector's resilience and potential for growth
Kingston, Ontario, hosts 17 cannabis shops, and contrary to concerns about market saturation, McLean argues that the city still has room for expansion. She points out that the number of cannabis outlets is still lower compared to alcohol retailers, suggesting that the city is far from reaching its saturation point. McLean also notes that unlike larger cities such as Toronto, Kingston does not face issues of store clustering, allowing for a more balanced distribution of cannabis shops
The cannabis sector has not only contributed to economic recovery but has also significantly impacted job creation. According to McLean, over 27,000 people are employed in retail stores alone, not counting those in production facilities. This growth is reflected in the province-wide statistics, with more than 1,000 cannabis shops now operating across Ontario, surpassing the number of LCBO outlets. This expansion highlights the cannabis industry's role in supporting both local economies and broader economic recovery efforts