Study: Marijuana has $2.4 billion economic impact on state

Study: Marijuana has $2.4 billion economic impact on state

Published on Oct 26, 2016

As legal marijuana becomes increasingly more common and widely accepted, it's easy to see that the marijuana industry is responsible for many new jobs and a substantial amount of tax revenue. According to a study by the Marijuana Policy Group, after legalizing recreational marijuana, Colorado earned $121 million in tax revenue from the $996 million in legal marijuana sales in 2015. From 2014 to 2015, tax revenue in Colorado increased by 91%. The marijuana industry has also brought more jobs to the state, 18,005 in 2015 alone according to the report. 

The 24-page report concluded the marijuana industry is the fastest-growing business sector in the state. It’s credited with creating 18,005 jobs in 2015, according to the report.

Legal marijuana produced $996 million in sales and $121 million in taxes in 2015.

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