“Hey, hey, hey, hey! Smoke weed every day.” (c) Nate Dogg
Colarado’s green rush is the new gold and the retail market for marijuana is about to skyrocket within the next four years. This year alone, we’re projected to sell about $2.2 billion worth of herb, a number which may quadruple by 2018 if the forecast continues. Up to this point, we’ve shattered previous projections that have been made in Colorado, thanks to being the first state to legalize the drug for recreational purposes.
And it’s been paying off. Their tax revenue is through the roof and the state is supposed to bring in $98 million through taxes by the end of the year. Colorado schools will be receiving 40 million, while the rest will be split by the local governments and the state.
They’re watching the money pile up.
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Many businesses have been created directly through weed being legalized and tourism is one of it’s main drivers. Now you have Bud & Breakfast locations, an assortment of THC sweets on the market, marijuana cooking classes and even vending machines.
If these other states can get with the program and follow Colorado’s footsteps, the United States of America might be out of debt sooner than anyone will project.
Next up on the “State to Watch Succeed” list, Washington.