The Guardian reports…
The Isle of Man has for decades been dominated by offshore financial services, but now its government is planning a push for a new kind of economic growth: medicinal cannabis.
The British crown dependency is hoping to license as many as 10 firms by the end of 2025 to grow and export medicinal cannabis products from the island as part of a strategy to spur development.
Tim Johnston, the Isle of Man’s minister for enterprise, said the island’s government was “really looking to diversify our economy”, and that encouraging a medicinal cannabis industry was one aspect of a plan to nearly double GDP by 2032, create 5,000 more jobs, and give younger Manx opportunities on the island.
Johnston said: “We recognise we’ve got an older population. We’re keen to see that change.”
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