Study: Marijuana has $2.4 billion economic impact on state

Study: Marijuana has $2.4 billion economic impact on state

Published on 10/26/16

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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