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Colorado earned a billion dollars from the cannabis revolution - an official report

Nearly 7 billion in cannabis and its products have sold cannabis legal shops since it was approved for legalization in Colorado in 2014. More than a billion of them entered the state coffers and from there, as determined by law, they were referred to education, health and infrastructure. "Legalization helps the economy and creates jobs."

The Colorado government has reported a profit of more than $ 1 billion in taxes since legal cannabis shops opened at the beginning of 2014, about a year after it was approved in a referendum on the legalization bill.

Precisely 1.02 entered the state coffers from market taxation after the shops sold cannabis and its products worth 6.56 billion dollars within 5 a year and a half, almost a billion and a half dollars each year.

Overall 2,917 licenses have been issued to businesses in the legal cannabis industry of Colorado, which created 41,076 new jobs, according to the report.

"The [new] industry is helping the economy, creating new jobs and generating valuable profits for us," wrote Colorado Gov. Jared Polis In a press release Published Wednesday.

According to the governor, and as determined in the wording of the law, the profits from taxation are directed at preventing the use of young people, are invested in the construction of public schools and protect public health and safety.

In addition, the government refers some of the profits to drug abuse prevention programs among youth, as well as to mental health services, and treatment and assistance for addiction therapists.

Graph of profits from legalization in Colorado
A segmentation of the budgets allocated to the public from tax profits The legal cannabis market

"The new law kept its promise and brought significant profits," said Brian Vicente, one of the drafters of the bill. "The funds are invested in a lot of things, from building schools to employing educational experts and violence prevention programs."

Last month, Governor Polis signed an expansion of the legalization clauses and approved for the first time the sale of legal cannabis by shipments to the home and the use of cannabis in designated public areas. He also allowed public companies on the stock exchange to hold licenses in the cannabis sector.

This official report by the Colorado government joins the line Previous reports Which examined a variety of other issues in order to examine how the transformation of cannabis affected the public.

Colorado Governor John Hicknalloffer, who initially opposed the idea of ​​legalization but retracted after receiving the results, recently presented his candidacy for the Democratic Party and ran against Donald Trump in the presidential race in November's 2020 elections.

"Everything we were afraid of did not happen," he said. Said in retrospect Hinnlooper. During his visit to Israel Read The Israeli government must cooperate and "earn a fortune" from the new cannabis branch, but has been refused.

The State of Illinois recently approved the legalization of Cannabis, making it the 11 country in the US that has been doing this since Colorado, which did so in November for the first time.

Cannabis fines

(Starting with 1 in April 2019)

Based on a figure revealed by Minister Erdan. Police refuse to reveal official figureDetails here)



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