Colorado’s economy got a big boost from the marijuana industry in 2015: $2.39 billion to be exact. The medical and recreational marijuana industries in Colorado created more than 18,000, making it the fastest growing sector in the state.
A 44-percent increase in tax revenues, to the tune of $135 million, were generated in Colorado in 2015, according to Time.
The Denver-based Marijuana Policy Group expects that the Colorado marijuana market will overtake tobacco, in terms of tax revenue, by 2020. As more states continue to legalize marijuana for medical and recreational purposes, Colorado’s tourism and recreational marijuana sales are expected to decrease.
Five states – Arizona, California, Maine, Massachusetts and Nevada – will be voting on legalizing marijuana for adult use this November. And with just weeks before Election Day, the latest polls show support for legalization in all of those states.