Cassidy has signed a new one-year deal, with the Championship club having the option to extend that by an extra 12 months, and Jackett believes that Cassidy could prove to be a valuable option during the season.
The 52-year-old is quoted by the Express & Star as saying: "Jake has signed a new deal. Patience is something and players can change from one season to the next, so you have to consider re-signing them.
"It's part of the factor of keeping players. It's something that you can do and defer the decision while they gain experience.
"For us as well, centre forward is a different position and you should have options because it's sometimes difficult during the season to get forwards in."
Wolves intend to allow Cassidy to join a League One side on loan before the start of the next campaign.