The grass is definitely greener now in Colorado, since Amendment 64was passed in the state back in 2012, then legalized in 2014. The state reported that the legalized weed operation managed to generate almost $2.4 billion in the last 12 months; $1 billion of this comes in sales of cold, hard cannabis! The industry has muscled into 6th place in terms of the state’s economic output, even surpassing gold mining, performing arts, sports and non-grain crops. The remarkable aspect of this first year’s sales of 112 metric tons of bud, has meant the cannabis industry has outperformed all private industries in Colorado, outstripping even alcohol sales. Additionally, production is contained entirely within Colorado – due to legal restrictions on weed outside the state – this equals a wonderful fiscal harvest.
Every dollar spent on cannabis earns the state $2.40 in output, manufacturing of the plant earns $2.34 and cultivation $2.13, more than even Federal Government spending and has created 18,000 jobs (according to the Marijuana Policy Group – MPG). Detractors that opposed cannabis legalizing would often cite fears (aside from the popular “gateway drug” argument) of cannabis causing general listlessness and laziness. If the galvanized economy is anything to go by, though, laziness seems to have gone up in smoke in the face of this evident financial success.
*Article originally appeared at Minds.
