The cannabis industry is flourishing in all states where the substance has become legal. Big corporations are not the only ones that expand their presence in the legal marijuana market; small entrepreneurs and startups also benefit from this developing segment. For instance, weed companies in Oregon can now boast of attracting millions of dollars for the manufacture and distribution of marijuana products and services.
According to Floyd Propanski, an Oregon senator who is also a member of the Oregon Marijuana Regulation Committee, investors have already put tens of millions of dollars into Oregon's cannabis industry. The estimated total amount of investment varies between $60 million and $80 million, and that was only in the last six months.
Propanski is not disclosing any information about where most of the investment money has gone. However, it was mentioned that Phylos Bioscience was one of the recipients.
Many investors are currently focused on ancillary businesses that do not concern cannabis directly since this strategy is less risky and allows keeping safe from prosecution by the federal government. Others are throwing millions behind growers and retailers as the industry continues to expand.