10 Facts about how marijuana can boost this economy

10 Facts about how marijuana can boost this economy

Published on 10/11/13

10 Facts about how marijuana can boost this economy

1. According to Harvard economist Jeffrey Miron, the government would save $7.7 billion dollars on prohibition costs annually by legalizing marijuana.

2. Its costs more than $1 billion dollars annually to keep inmates jailed for marijuana-related crimes, according to a 2007 AlterNet study.

3. TIME Magazine reports that California's annual marjuana crop accounts for $14 billion dollars a year in sales in California- making it the states #1 cash crop. 

4. It is estimated that illegal marijujana purchases add up to a $36 billion dollar a year industry- says MadamNoire.

5. Medocino County, California raised over $600,000 dollars for the Sheriff's department in 2011 though its zip tie program, where they regulate growing by charging permits for each plant grown. 

6. In 2011, Oakland, California raised $1.3 million in tax revenue from medical marijuana dispensaries- accounting for 3% of the city's total business tax revenue. 

7. Colorado pulled in nearly $5 million dollars in sales taxes from medical marijuana businesses in 2011 as well. 

8. Each weGrow, a hydroponic supply clain, that opens creates an estimated 75 job indirectly, according to AZBusiness Magazine

9.  According the a poll by the AP-CNBC, more than 60% of stats agree with taxing marijuana

10. Economist Stephen Easton estimated that legal marijuana could be a $45 to $100 billion dollar industry in 2010. 

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