Employees in a legalized cannabis industry in The Bahamas could earn very attractive salaries, according to the draft report by the Bahamas National Commission on Marijuana, viewed by Guardian Business.
The report, which outlined the potential economic impact of a cannabis industry in The Bahamas, found that globally wages in the industry are among the highest in the world.
“A laborer would make wages starting at $15.00 an hour and a master grower’s salary starts from around $100,000 annually,” the report notes.
“Whilst many Bahamians will need to be adequately trained to be growers, this profession is a very doable and practical livelihood for many.”
Employment was listed as one of the five direct economic effects from legalizing marijuana, along with licensing fees, real estate, equity programs and taxation.
The report points to the two global approaches to licensing – considered the entry level component of the industry – in the form of either an open market approach or a closed market approach.
“The open market approach consists of different license classes and tiers. For example, the licensing fees could be associated with square footage being used in an operation… Both approaches are very lucrative and allow for broader involvement across the region,” the report notes.
“The closed market approach involves designating licenses to a very small number of businesses coupled with excessive licensing fees, thereby making it almost unattainable for the average citizen to acquire.”
As for real estate, the report noted that cultivation and processing centers demand huge amounts of land, therefore making real estate an essential component to having a sustainable marijuana industry within the country.
“The potential sale or lease of these properties can offer a very positive impact to neighboring communities,” the report notes.
The 98-page report, which was viewed by The Nassau Guardian, is still under review by the commission.
It is unclear when the document will be finalized.