Colorado makes more than $1 billion from pot sales
Colorado, the pioneering state for pot peddling, has now made more than $1 billion in revenue since it legalized marijuana sales in 2014.
The Colorado Department of Revenue announced this week that the combined marijuana tax, license and fee revenue had reached $1.02 billion, and marijuana sales alone have exceeded $6.56 billion.
“This industry is helping grow our economy by creating jobs and generating valuable revenue that is going towards preventing youth consumption, protecting public health and safety and investing in public school construction,” Governor Jared Polis said in a statement.
The revenue from Colorado’s marijuana tax funds several public education programs, as well as health and human services programs throughout the state.
Colorado isn’t the only place cashing in on the hunger for legal weed. In 2018, marijuana business owners nationwide were projected to own a total of $2.8 billion in taxes to the federal government. As many as 300,000 people are predicted to be a part of the marijuana industry by 2020, and pot-related jobs from bud trimming to industry consulting can pay some pretty healthy green.