According to a new report released by the Marijuana Policy Group, there were over 18,000 new full-time-equivalent jobs created by the legal cannabis industry in Colorado in 2015 alone. According to the report, titled Economic Impact of Marijuana Legalization in Colorado, the cannabis industry generated $2.39 billion in primary and secondary business revenue last year.
“The Marijuana Policy Group (MPG) has constructed a new model that accurately integrates the legal marijuana industry into Colorado’s overall economy. It is called the “Marijuana Impact Model””, the report states. “Using this model, the MPG finds that legal marijuana activities generated $2.39 billion in state output, and created 18,005 Full-Time-Equivalent (FTE) positions in 2015”.
“Because the industry is wholly confined within Colorado”, the report states, “spending on marijuana creates more output and employment per dollar spent than 90 percent of Colorado industries”.
The report estimates that the market will increase by over 11% annually until 2020, at which point the state demand will be “215.7 metric tons of flower”.
The full report can be found by clicking here.
About Anthony Martinelli
Anthony, co-founder and Editor-in-Chief of TheJointBlog, has worked closely with numerous elected officials who support cannabis law reform, including as the former Campaign Manager for Washington State Representative Dave Upthegrove. He has also been published by multiple media outlets, including the Seattle Times. He can be reached at TheJointBlog@TheJointBlog.com.