Jun 13, 2019, 7:47 am325 ptsTop
Total Marijuana sales revenue in Colorado have surpassed $1 billion dollars. The latest sales data from the Colorado Department of Revenue paints a picture of a thriving Cannabis market since Colorado legalized adult use Marijuana in 2014.
To date, Colorado marijuana tax, license and fee revenue has surpassed $1.02 billion and marijuana sales to date exceeded $6.56 billion. Currently, the Golden state has 2,917 licensed marijuana businesses and 41,076 individuals who are licensed to work in the industry.
The tax money collected supports the licensing and regulation of marijuana businesses, youth prevention efforts, behavioral health treatment, and protecting public health and safety. Marijuana tax revenue has recently been used to fund the building of schools, literacy programs and numerous other grants to educational funds and programs for community behavioral health programs including mental health services for juveniles and adults, crisis services, criminal justice diversion, the Circle Program, substance use disorder and detoxification services.
"Today's report continues to show that Colorado's cannabis industry is thriving, but we can't rest on our laurels. We can and we must do better in the face of increased national competition. We want Colorado to be the best state for investment, innovation and development for this growing economic sector," said Governor Polis. "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."
"We are committed to facilitating responsible innovation within this dynamic industry through continued engagement with our diverse group of stakeholders," said Jim Burack, Director of CDOR's Marijuana Enforcement Division. "Colorado will continue to be known for its regulatory leadership."
Trending Today on NewsBudz
Top Trending in July
NewsBudz is a marijuana and medical cannabis news app. The site delivers a daily feed of the latest cannabis news. We aggregate over 30 of the web's best sources for news about marijuana, hemp and legalization to keep you informed.
Stay on top of the latest news headlines, trends and developments worldwide around recreational and medical marijuana. Sit back and relax, while you read learn and share. On the web or your mobile device, NewsBudz is your cannabis news stream.