Now that the “Adult Use of Marijuana Act” has officially qualified for the ballot in California, everyone’s attention turns to the vote this November and beyond. If recreational legalization is passed by voters it will unleash an economic revolution in the state.
By itself, California is the world’s 6h largest economy. With almost 40 million people and a medical marijuana industry that is 20 years old, CA is primed for government restrictions to be taken off of recreational growing and sales.
I hope you’re sitting down as you read this, because this is MAJOR and SHOCKING news!
Marijuana legalization creates jobs.
Yes, you read that right. Legalizing marijuana creates jobs. It turns out that people like to buy marijuana, and they like to buy it from stores. Those stores need people to sell the marijuana to those who want to buy it. So businesses open up and hire people and sell marijuana. It’s crazy, AM I RIGHT?
In the month of April some $117 million worth of legal cannabis was sold in Colorado, setting a record for the relatively short history of legal marijuana sales in the state. It’s sure to be a record broken time and time again.
Recreational marijuana sales accounted for over $76 million of the record total, which is not surprising considering how much larger and less restricted – in terms of customer base – that market is. Overall, recreational sales saw an 80% increase over sales from last Aril.
Officials in the city of Aurora, Colorado say they will be directing some of the tax revenue from recreational marijuana toward programs designed to help the homeless.
In all about $1.5 million in revenues will be used for homeless programs, including some money to local groups to buy vans for homeless outreach as well as $200,000 to a nonprofit organization that assists homeless people living in hotels.
When cannabis was first prohibited with a tax stamp in 1937, very few people actually knew what it was. From that grew a stigma that is still being battled today.
But things are getting better; much better. Taking at a look at some numbers from days gone by can show us just how much attitudes have changed.