WASHINGTON POST: Between medical and recreational marijuana, pot generated $63 million in tax revenue for the state.
WASHINGTON POST: Between medical and recreational marijuana, pot generated $63 million in tax revenue for the state.
The total economic impact of the state’s marijuana industry is likely greater, as these figures don’t include retail sales of products related to marijuana, such as pipes and bongs, and they don’t account for increased tourist spending in other segments of Colorado’s economy, such as hotels and restaurants.
With a full year of data to work with, the state has a clearer picture of what to expect from its marijuana market in the future. Total marijuana tax revenues are expected to climb to $94 million annually by 2016, according to the latest projections. This would equate to a $1 billion dollar retail market.
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