Lessons from the Colorado Recreational Market’s Sixth Birthday (Part II)
May 17, 202086% of Americans Know of CBD
May 19, 2020Lessons from the Colorado Recreational Market’s Sixth Birthday (Part II)
May 17, 202086% of Americans Know of CBD
May 19, 2020
- In the six years since Colorao adult-use sales began, the state has generated $1.2 billion in tax revenues and licensing fees from cannabis businesses in the state.
- The industry has grown to nearly 3,000 businesses employing 39,00 personnel across the supply chain, including nearly 1,600 adult-use retail stores.
- Education has been a key allocation for the states cannabis revenues, with the government spending the first $40 million on retail excise tax revenues to the state’s school construction fund, plus an additional $23 million in FY18-19 toward education-related programs.
- Programs managed by the States Human Services and Public Health agencies have also been leading recipients of cannabis revenue funding, supporting programs ranging from mental health services, criminal justice system diversion, substance abuse treatment, and youth mentorship programs.
- Legalization has also resulted in a dramatic decline in cannabis-related law enforcement, with arrests for cannabis possession falling 92% since 2009. However, with underage possession now criminalized under the 2012 adult-use law, the number of minors charged with cannabis possession has risen nearly four-fold since 2013.
