This would not only benefit individuals, but also the government. Estimates state that the cannabis industry in British Columbia alone produces about $25 billion CAD per year in sales. When this is expanded across Canada, the number increases significantly. Excluding British Columbia, the rest of Canada has revenue of about $90 billion a year, for a combined total of $115 billion in annual Canadian cannabis sales.
Profits can be made in more than just the final sale of cannabis. In Canada, about 30,000 people are arrested each year on charges of possession and/or distribution of marijuana. According to the Auditor General's report, this translates to $500 million for annual enforcement of drug laws, another $500 million for legal fees, and another conservative estimate of $50,000 per year for each incarcerated offender. This totals another $1.5 billion per year spent by the government. .
Another profitable possibility is to integrate the growth of hemp with existing tree forestation. It takes four acres of trees to produce the same amount of cellulose fibre as one acre of hemp. Trees also take about 20 years to grow back, while hemp takes only four months. Newspaper and wood pulp exports annually bring about $15-20 billion (agr.gc.ca, 2013). This means hemp could bring in over $60 billion a year, given a big enough market. Due to potential lack of demand, a conservative estimate of $30 billion will be used. This resource would be virtually unlimited while also saving money on forestation projects. This means our parks and woodlands can be saved in addition to the $90 billion the country brings in on tourism.
Combining the aforementioned revenues, the total is $147 billion per year that could be added onto the Canadian GDP given the legalization of marijuana. This is put into perspective when considering $150 billion is approximately 9% of the entire Canadian GPD in 2012 (statcan.gc.ca, 2013), a number that could cure world hunger five times over.
