InvestorWire NewsRoom

Article

Hero Technologies Inc. (HENC) in Position to Contribute to $92B Economic Boost Projected to Come from Cannabis Sector
July 22, 2021

Hero Technologies Inc. (HENC) in Position to Contribute to $92B Economic Boost Projected to Come from Cannabis Sector

  • A recent analysis reports that the cannabis sector is projected to add approximately $92 billion to the general U.S. economy this year
  • From jobs to tax revenue to commercial real estate, the marijuana industry has a growing impact on broader U.S. economy
  • Hero Technologies is planning expansion in cultivation and dispensary operations

Companies operating in the cannabis space in the United States sometimes have to deal with negative stereotypes and news, but this week, cannabis headlines focused on the positive. A recent MJBizFactbook analysis reports that the cannabis sector is projected to add approximately $92 billion to the general U.S. economy this year (https://ibn.fm/RF9pN). Hero Technologies (OTC: HENC), a cannabis company focused on growing into a multistate, vertically integrated entity with strong cultivation and dispensary assets, is in a position to contribute to this economic benefit.

“From jobs to tax revenue to commercial real estate, the marijuana industry has a large — and growing — impact on the broader economy in the United States,” reported an MJBizDaily article. “The total U.S. economic impact from marijuana sales in 2021 is expected to reach $92 billion – up more than 30% from last year – and upwards of $160 billion in 2025, according to analysis from the newly published MJBizFactbook.” The article notes that the numbers are a best guess because the marijuana industry’s structure is somewhat unique because it encompasses agricultural, manufacturing and retail activity.

The projected impact may be even greater than the dollar-amount indicates, according to the article, which notes that in calculating these particular numbers, analysts believe that each dollar that a patient or recreational user of marijuana spends at a retail outlet translates into an extra $2.5 injected into the local economy. 

“Those additional dollars added to local economies arise because employees of cannabis firms spend on food, transportation, housing, entertainment as well as other necessities of life. Furthermore, buyers of cannabis products also pay local and state taxes or fees,” the article stated. “This increases the impact of their purchase upon the economy since those tax dollars go to maintaining schools, building infrastructure and meeting other expenses at the state or even federal level. This is where the broader U.S. economy benefits, according to the MJBizFactbook team.”

As Hero Technologies Inc. focuses on growth and expansion, the company could be a contributor to this boon to the country’s economy. HENC’s growing portfolio includes a majority stake in BlackBox Systems and Technologies LLC, an aeroponic cannabis cultivation system that provides optimal conditions to enhance photosynthesis and cultivation of large flowering plants, creating increased efficiencies. Hero Technologies is also planning expansion in cultivation and dispensary operations into both Colorado, through its wholly owned subsidiary Mile High Green LLC, and Massachusetts, through wholly owned subsidiary MassCannabis LLC. In addition, Hero Technologies owns and operates two hemp websites: HighlyRelaxing.com under Highly Relaxing LLC and VeteranHempCo.com. 

HENC is working toward a vertically integrated business model. The company’s strategic business plan includes cannabis genetic engineering, space for both medical and recreational cannabis cultivation, production licenses, distribution licenses, consumer packaging, and retail and dispensary operations that make the company a multistate operator.

For more information, visit the company’s website at www.HeroTechnologiesInc.com.

NOTE TO INVESTORS: The latest news and updates relating to HENC are available in the company’s newsroom at https://ibn.fm/HENC

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(862) 930-1404

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).