The Growing Dispensary Number in the Marijuana Industry
With more and more states approving legalization, the marijuana industry is rapidly growing. The number of dispensaries around the country increases by the day.
Everyone is talking about the marijuana industry.
Some people think it’s the biggest business boom since the internet. Others are screaming like it’s the end of the world.
One thing is certain. The industry has seen amazing and rapid growth. That is sure to continue
There are a number of dispensaries in Denver alone. And the rest of the country is following our lead.
Confused by the hype? Let’s look at the numbers:
The Marijuana Industry is Booming
According to the Chicago Tribune:
The $2.4 billion marijuana industry created over 18,000 new jobs in Colorado 2015. With laws getting passed every year in new states that number is set to explode.
It’s Growing, Fast
Excuse the pun, but things are growing fast. Even beyond the new job numbers.
The same Chicago Tribune article reports:
“In 2015, marijuana taxes brought in about $121 million in revenue to the state.”
Experts expect that “number to rise to about $150 million by 2020.”
The Industry Is Moving Into Other States
Beyond Colorado The Huffington Post reports some numbers that might surprise you:
$190 million is the amount in taxes and fees legal marijuana is projected to raise for the state between 2015 and 2019.
CNN reports that “in 2014 dispensaries in the state sold more than $257 million worth of marijuana.
The estimated annual sales tax revenue generated by medical marijuana dispensaries in California is $105 million.
Each state has its own rules.
Here’s a few examples from California:
- Only adults can legally smoke pot
- There are no commercials on TV
- You can’t legally smoke in public
- You can get fined for breaking these rules
Arizona (Major Growth)
The estimated size of the medical marijuana market in Arizona in 2014 was $142.19 million.
That was up from $35.37 million the year before.
Major Benefits of Dispensaries
All that money and growth can do a lot good.
As each state regulates their own marijuana laws, they also can decide how to spend their tax money.
A lot of good can be done for a state with all this money coming in.
Here are some examples one state is using their extra tax money for:
- Covering the state’s cost of licensing and supervision
- Funding state universities to research and evaluate the impact of marijuana laws on health and safety
- Develop police processes for keeping marijuana use safe
- Programs to keep motorists safe
- Grants to local health departments and community-based nonprofits
- Job placement, mental health treatment, drug abuse treatment and legal services for low-income communities
- Youth programs, including drug education, prevention, and treatment
- Programs to prevent and reduce environmental damage from illegal marijuana producers
With all those tax dollars rolling in from dispensaries there are many positive impacts.
Experts agree that marijuana dispensaries are set to crop up into many more states.
It’s only a matter of time before medical and recreational marijuana is legalized across the country.
Estimates see the industry at $44 Billion nationwide by 2020.
Find Out More
Ready to get in on the buzz? Drop us a line.
We are a top producing clone dispensary in the Denver area offering open genetics for the medical and recreational market.
Contact the Denver Clone Store today for more information.