In light of the announced intention of the federal government to legalize recreational marijuana, an entirely new sector will become available to the economy. To date, the use of marijuana in Canada has been restricted to pharmaceutical and health-care industries. There are about 70,000 prescribed users across the country with increases each quarter.
“With the marijuana industry potentially transitioning into the mainstream economy, there will be numerous opportunities for growth, innovation and job creation,” said Economic Development Minister Francine Landry who is also minister responsible for Opportunities NB. “By partnering with the private sector and the federal government, New Brunswick will be able to solidify its foothold in a rapidly growing industry, which will in turn create employment and diversify our economy.”
Facilitating and developing the marijuana sector is part of the New Brunswick Economic Growth Plan. The plan focuses upon developing opportunities where the province has a distinct competitive advantage. New Brunswick is optimally located on the border of Quebec, Prince Edward Island and Nova Scotia, with rail and port access to central Canada and the United States. This strategic location, in conjunction with burgeoning technology and innovation sectors, can help position the province for success in the cultivation, distribution and management of this new market.
The government directs resources into public and private partnerships in order to ensure this opportunity is properly assessed and developed to its full potential. A separate task force is in place examining the implications of this development.
Opportunities NB is a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across the province.