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Economic Impact Of Marijuana On The Economy Essay

1305 Words6 Pages

What Would the Economic Impacts of the Legalization of Marijuana be on the Adult Population of the United States of America? Introduction The topic of whether marijuana should be legalized has been a widely discussed issue over the past few decades, and with valid arguments for both sides, it is impossible for a decision to be made that everyone is happy with. However, from an economic standpoint there is only one decision that makes sense. Marijuana has been nothing but an economic boon for the states it has been legalized in, with it currently being one of the fastest growing industries in the states that it is legalized in, such as Colorado and California. Numerous jobs are being created as a result of this ever-growing industry. New jobs such as growers are being established, while already made jobs like retailers are growing in need. Certain industries and goods are also benefiting from the legalization of marijuana. For example, demand for storage units is skyrocketing, and unused office spaces are being used for growing and selling. While the majority of the population is experiencing a positive impact from marijuana, there is a minority who are being …show more content…

Mrinalini Krishna, who graduated from New York University’s Business and Economic Reporting program, wrote about the economic impact of marijuana in Colorado in an article for Investopedia. “In 2015, Colorado collected more than $135 million in taxes and fee on medical and recreational marijuana. Sales in the state totaled over $996 million.” (Krishna par. 2). A similar impact is being found in Washington. Gavin Ekins, Ph.D. graduate in economics from George Mason University and research economist for Tax Foundation reports that, “after a slow start to bring the licensing system online, sales are now averaging over $2 million a day with revenue possibly reaching $270 million per year.” (Ekins par.

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