What are some of the markets that benefit from weed legalization? The possibilities are endless.
Believe it or not, there are a ton of markets that benefit from weed legalization. Before Colorado passed Amendment 64 four years ago, nobody was certain about the state’s pot-tential. At the time, many could only speculate about the consequences of legalizing marijuana.
Colorado blazed the trail as the first place in the world to allow anyone over 21 to purchase green. Its green rush, and the success of states following its lead, provides data to argue the benefits of establishing legal recreational marijuana, particularly for other economic markets.
After Amendment 64, retail stores popped up in neighborhoods by local pizza joints and gas stations. Like candy stores, glass display cases in dispensaries offered rows of various cannabis products.
And it didn’t take long to see the effects. In 2016 retail marijuana sales generated around $200 million in state tax revenue and license fees.
But this doesn’t include additional revenue gained in local taxes and fees from cities. In 2015 alone, just those extra funds paid for Denver’s enforcement, regulation and education costs.
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