As unemployment reaches levels unseen since the Great Depression, cannabis businesses are hiring thousands of workers nationwide.
CNN, Politico
- Politico writes, “Fewer shoppers are hitting stores, but they’re making bigger buys, and there’s been a surge in delivery sales. They are thriving even though they can’t touch federal rescue money to pay their bills or employees.”
- In most cases, the hiring plans were in place pre-pandemic but they haven’t been derailed.
- Front Range Biosciences CEO Jonathan Vaught argues Congress needs to support the industry.
Green Entrepreneur
Meanwhile, cannabis social network MassRoots, a group of whose investors recently paid $1.5M to resolve federal stock fraud charges, said it received a $50,000 loan from the paycheck protection program, which is off limits to ancillary cannabis businesses. MassRoots didn’t return a request for comment.
Barron’s, Press release
- A bunch of CBD businesses also obtained federal relief.
Vice
