Colorado's Cannabis Economy: State Shows Economic Growth at Twice the US Average
In the two years since recreational marijuana sales became legal in Colorado, the state has seen economic growth two times greater than the U.S. national average, according to a new in-depth analysis.
"The Economic Impact of Marijuana Legalization in Colorado," released by the Marijuana Policy Group in October 2016, was created using a new "Marijuana Impact Model" designed to accurately measure the cannabis industry's economic impact on the state.
As it turns out, the positive impact has been enormous. The state saw nearly $1 billion in marijuana sales in 2015, with legal cannabis activities generating a combined output of $2.39 billion. Sales increased 42.4 percent over 2014.
From the report:
"Because the industry is wholly confined within Colorado, spending on marijuana creates more output and employment per dollar spent than 90 percent of Colorado industries ... Legal marijuana demand is projected to grow by 11.3 percent per year through 2020."...
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