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The Legal Weed Game In Denver; Profit UP, Crime Down

Back on January 1, when it became legal to sell recreational marijuana, it was estimated that, across the state, pot shop owners made more than $1 million in that one single historic day of business. The Law allows for residents, over the age of 21, to purchase up to an ounce of marijuana at a single purchase if for recreational purposes, with non-residents able to purchase up to a quarter ounce.

Now, official figures released by the Department of Revenue show that, in the first 3 months, sales of recreational marijuana alone have in fact raised in excess of $7.3 million in taxes. When income from medicinal sales tax and licences is included that figure rises further to $12.6 million. 

The fact is that in the new legalized recreational business in both January and February, more than $14 million was sold each month. March exceeded this by claiming almost $19 million in sales, and the trend is continuing to rise. From those sales figures, there has been a corresponding rise in sales taxes; January generated $1.4 million , February brought in $1.43 million and the most recent figures for March showed it to be $1.898 million. 

This destroys the initial argument by opponents who claimed that there would be an initial boost would eventually fade away.

In addition, many said there would be an increase in violent crime in the state as a result of ‘trafficking’ and associated crimes. This has been far from reality – overall crime has actually fallen slightly in Denver

One huge benefit from this new industry has been a creation of jobs, from budtenders, growers, salespeople and even more journalists writing about the changes. This all adds welcome revenue to the state of Colorado.

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