The economics of pot
Colorado’s economic future is now looking better than ever with a very unlikely candidate to boost our economy: marijuana. Yes, in the eyes of Colorado lawmakers, cannabis equals cash, and a lot of it. According to9News, pot sales exceeded $1 million on first day. With estimated revenue of over $70 million by the end of this year according to Huffington Post, this profit means big things for the state of Colorado.
First the school systems will benefit from this new legalization. The first $40 million of pot sales tax revenues will go to school construction projects. The 25% tax on marijuana products will allow the state to meet this amount for the schools in no time.
The tourism benefit is another positive of the legalization. Colorado now has a certain reputation of being a cannabis–encouraging state, but good comes from this. Local businesses have been starting up with the recent legalization offering out-of-staters bus tours of local dispensaries and glass-blowing shops, as well as other Colorado attractions. According to the Associated Press some of these tours can be rather pricey costing as much as $10,000 with a full dispensary tour as well as a trip to one of Colorado’s famous ski resorts. These tours aren’t for everyone, and for me, they seem a bit ridiculous that people would shell out this much money for a few days in Colorful Colorado. But I am but a native Coloradoan and if the masses have a bit of cannabis-curiosity, the locals should embrace it. Small business prosperity as well as the tax revenue will benefit the state in the long run.
What started out as a big deal for the nation as Colorado legalizes recreational marijuana still resonates as a big deal for the state. The financial benefits that the state gains from this new law will pay off in the long run, guaranteed.by
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