Will marijuana help states during economic uncertainty?

Since the last downturn, more states have had legal marijuana – with its strong source of income

It seems that it has come economically uncertain. Wall Street has taken a big fall because unemployment seems to be increasing. The consumer's trust was shaken as prices for staple clips, including eggs. Customs with neighboring countries threaten jobs and household budgets. While the federal government is less concerned, state budgets could score larger hits. But will Legal cannabis marijuana help states during economic uncertainty?

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The legalization of marijuana has turned out to be a strong economic instrument for states and offers a lifeline in uncertain economic times. The cannabis industry has proven to be a transformative force by promoting the creation of jobs, the creation of considerable tax revenue and the stimulation of the local economy. Three states already earn annual tax revenue of over 500 million US dollars from the factory.

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The cannabis industry is one of the faster growing sectors in the USA. Employment opportunities for agriculture, retail, manufacturing and support services such as compliance and marketing. Legal cannabisjobs have increased in the past ten years, with forecasting that the federal government allows. For example, states such as Massachusetts have already reported more cannabis workplaces as traditional professions such as cosmetology. This creation of jobs not only reduces unemployment, but also brings income into the local economy through consumer expenditure for essentials such as housing and transport.

Legal marijuana markets achieve billions of tax income annually. The states used legalization to use these means to strengthen the budgets and invest in critical public services. For example, Colorado has assigned 7.3 million US dollars from cannabist tax revenue for homeless and housing initiatives1. Nationwide legalization could further increase this effects, with the estimates of the annual tax revenue of 8.5 billion US. These funds are often reinvested in education, infrastructure, programs for public health and community development projects.

The legalization of cannabis revitalizes local economies by attracting companies and increasing the demand for commercial real estate. Most cannabis shops are usually mom and pop companies, including retailers, farmers and local regional product producers. From cultivation options to retail stores, the industry is doing investments in equipment and infrastructure, which benefit both urban and rural areas. In addition, every dollar generates that was output for cannabis. States such as Alaska, Colorado and Massachusetts show how the economic advantages of Pro Kopfa can significantly improve local prosperity

“Cannabis promotes economic growth, creates jobs and generates tax revenue while offers a safer alternative to alcohol. It is a less harmful leisure structure and valuable medicine for millions of Americans.

Legalization also reduces the financial burden on the enforcement of marijuana bans. The United States issues about 7.7 billion US dollars for the enforcement of drugs every year. By redirecting these funds in relation to education, regulation and support of the community, states can achieve economic savings and social justice.