10 Facts about how marijuana can boost this economy

10 Facts about how marijuana can boost this economy

Published on Oct 11, 2013

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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