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Tilray boasts big economic impact in Nanaimo

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Tilray is BC’s biggest medical marijuana producer and their impact on the regional economy has been substantial.

A new report shows the Nanaimo-based company had a total economic output of $48.1 million in 2014, and generated $8.5 million in tax revenue for the regional, provincial and federal government.

To date, Tilray CEO Greg Engel says they’ve paid out $3.2 million in wages and salaries, and created 357 full time jobs.

Engel says they’re planning a major expansion that would employ 275 additional staff, making them the largest private sector employer in the Nanaimo region.

He says the expansion would be four to five times the size of Tilray’s existing facility. He says they hope to get Health Canada approval and be operational in the new facility before the end of next year.

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While they’re not allowed to export medical marijuana beyond Canadian borders, Engel says they are looking at exporting something else.

Engel says they’re also in the final stages of getting a clinic trial approved, that would look at treating post traumatic stress disorder with cannabis. It would focus on patients including first responders, veterans and sexual assault victims suffering from PTSD. He says they’re hoping to start the study later this year.

 

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