Colorado marijuana an economics point for GOP candidates
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As Republican presidential candidates prepare to debate economic issues in Boulder, the sweet smell of success for the state’s legally sold marijuana industry seems impossible to overlook.
Nationally the legal industry brought in about $3 billion in 2014 but is projected to grow to more than $8 billion by 2018, if current politics stay the course, according to the Marijuana Industry Factbook.
Colorado racked up $700 million in sales of recreational and medical pot last year — nearly $76 million in tax revenue, including $13 million in licenses and fees. The industry is expected to top $1 billion this year.
Combined sales in Colorado topped $100 million in August, compared with about $47 million in August 2014.
That economic impact could explode as 11 states consider joining Colorado, Washington, Oregon and Alaska in legalizing recreational marijuana.
The question remains whether the economic argument comes in louder than Republicans’ concerns...
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