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We're Starting To Get A Better Picture Of How Awesome A $605 Million Legal Marijuana Market Will Be For Colorado

Stashed in: Business Facts, Economics!, politics, economics, Marijuana, Colorado

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Here are the most interesting things we learned from the report:

  • The adult recreational market  for marijuana will be worth $605.7 million. This doesn't even include the market for edibles — pot brownies, for example — that comprise a significant aspect of the market. 
  • The report estimated that 554,710 Coloradans — around 10% of the state's population — will use marijuana in 2014. This is a conservative estimate. 
  • Factoring in the Medical market, the Colorado market for marijuana will be 642,772 people — 12.4% of the state population. 
  • With a per-person usage rate of 3.53 ounces per year, the post-legalization estimate of demand for marijuana is 2.4 million ounces — roughly 75 tons — in 2014.
  • This doesn't even factor in marijuana tourism. 
  • The 15% excise tax will yield an estimate $21.7 million in revenues for Colorado in 2014.
  • A 15% sales tax will yield $90.9 million in 2014
  • The 2.9% state sales tax will yield $17.6 million. 

Who would have thought that selling marijuana could be profitable?

Detailed report at the link.

"Marijuana Tourism" is a funny phrase.

How soon before other states want a piece of this lucrative action?

I definitely thought it would be profitable.  

This is way more profitable than I realized. Plus governments get a carry.

only had to look at alcohol 

Well then shouldn't we be legalizing more things???