(Anti Media) – Colorado’s marijuana market continues to flourish, with pot sales for 2017 currently exceeding $1 billion, up 21% from the final year, according to state tax income information released this week.
The Cannabist reports:
““Colorado’s marijuana retailers logged upward of $1.02 billion in collective healthcare and recreational sales via August, according to The Cannabist’s extrapolations of state tax information released Wednesday. Year-to-date sales are up 21 % from the initial eight months of 2016, when recreational and healthcare marijuana sales totaled $846.five million.”
This year’s cumulative sales equate to much more than $162 million in taxes and costs for Colorado coffers.”
The legalization of recreational cannabis also had a constructive influence on house values in Denver, according to new research from the Wisconsin School of Business at the University of Wisconsin–Madison.
“The presence of retail marijuana establishments clearly had a quick-term constructive influence on nearby properties in Denver,” stated Moussa Diop, Wisconsin School of Business assistant professor of actual estate and urban land economics.
“This suggests that in addition to the sales and business enterprise taxes generated from the retail marijuana market, municipalities might practical experience an improve in house taxes. It’s an vital piece of the puzzle as much more and much more voters and policy-makers appear for proof about the effects of legalizing recreational marijuana, as the concern is taken up by state legislatures across the nation.”
Recreational cannabis is a single of the quickest-developing sectors of the economy, according to data released final year by New Frontier, beating out each electric cars and Big Data. While the federal government refuses to acknowledge the existence of legal cannabis jobs, an vital study by Leafly located Colorado’s marijuana market had made 23,407 complete-time jobs as of January 2017.