After successfully launching a Cannabis Chemistry program, Lake Superior State University continues to define innovative programming by launching a Baccalaureate of Science in Cannabis Business. The Cannabis Business degree provides students with the knowledge and skills necessary to obtain meaningful employment in the booming cannabis industry. LSSU Lukenda School of Business faculty recognized the demand for qualified candidates in this multibillion dollar industry, and designed the Cannabis Business program for future managers, supervisors, and business developers within a commercial enterprise.
LSSU is preparing the next generation for jobs, many of which are in the new legal cannabis industry. Over 60% of the general public support full legalization, and according to an article from February in The Boston Globe, all 2020 presidential candidates also support legalization. Ten states have legalized cannabis for adult use, while an additional 33 have legalized medicinal cannabis for adults. Let’s not forget Canada, our neighbors to the north, who legalized cannabis in 2018. This has created the need for qualified candidates in product development, marketing, consulting, and lobbying, as well as individuals familiar with the overarching laws and policies in accounting, banking, and real estate in cannabis and hemp businesses.
In the U.S., the cannabis market is set to create more than 500,000 jobs by 2022, outpacing healthcare and technology sectors. Estimates in Michigan alone predict legal cannabis spending could surpass $1.3 billion in 2022 and employ almost 28,000 people. In Canada, they are estimating at least 1,700 open positions in the cannabis industry and could create as many as 125,000 jobs in the next few years. With the legalization of cannabis in both Canada and Michigan, there is a growing need for business leaders who have a firm understanding of the laws and policies inherent in this industry. With these changing tides, LSSU is strategically positioning itself at the forefront of this emerging market, preparing the next generation of cannabis scientists and business leaders.
“Preparing students for tomorrow is our goal, and with a projected annual growth rate of over 28% and sales reaching $47 billion in the next decade, LSSU Cannabis Business graduates will have the skills and knowledge to take the lead in this emerging industry,” says Lukenda School of Business Professor Ralf Wilhelms.