B.C.’s cannabis sector has quadrupled since legalization

The value of British Columbia’s legal cannabis sector has more than quadrupled since legalization three years ago, and is now home to the third-highest number of legal retail stores and second-highest number of federal production licence holders in Canada.

That’s according to a statement released today by the provincial government.

B.C. has 375 licensed private retail stores, plus 30 public retail stores under the B.C. Cannabis Stores brand. The province said another 57 applications for private stores are approved in principle.

“As British Columbia passes the three-year anniversary of non-medical cannabis legalization, we are continuing to develop made-in-B.C. approaches to ensure we have a strong and diverse cannabis sector, while working to keep organized crime out of the industry,” said Mike Farnworth, Minister of Public Safety and Solicitor General.

“Legal B.C. cannabis businesses contribute to local economies and generate tax revenues that help pay for the schools, hospitals and services we all rely on.”

In an effort to move producers of illegal cannabis into the legal market, the province is launching Buy Legal, a public education ad campaign aimed at encouraging people to buy cannabis from legal retail stores that offer regulated and tested products. The campaign also highlights how supporting legal local retailers keeps profits out of the hands of illegal operators and organized crime.

B.C. is also developing a program for direct delivery and farm-gate sales, which will launch in 2022. This program will help producers get product to the market faster and build brand recognition.

The province is working with Indigenous people and communities to develop an Indigenous shelf-space program that showcases Indigenous cannabis products and allows them to be full partners in the economy. Work with the First Nations Leadership Council regarding cannabis-related agreements is also ongoing.