Colorado has brought in more than $60 million dollars in tax revenue off of marijuana during 2015. Marijuana may be considered “blood money” to Republican presidential candidate Chris Christie, but people here on planet earth see that as a partial solution to a problem faced by many states; a strained budget.
Marijuana has helped improve Colorado’s infrastructure and future. During the first six months, the state received $16.6 million for school construction projects. Too bad Governor Christie is only worried about improving his budget instead of New Jersey’s.
Numbers do not account for ancillary businesses
During 2015, the Colorado marijuana industry generated more than $440 million in revenue from the sale of recreational and medical marijuana. It is important to note that these numbers only take into account the actual sale of marijuana and do not account for the revenue generated by ancillary businesses such as grow lights, soil, vaporizers, security equipment, and other products and/or services.
During June, Colorado saw a spike in revenue from recreational marijuana and reported $50.1 million in revenue ($85.5 million total). This was the largest month-over-month increase and some people attribute this growth to a trend in seasonality. While that is possible, the industry is still too new to be certain of that. This is still just the first inning of what will be a multi decade growth cycle.
Get in on the ground floor
There are a number of investment opportunities in the Colorado cannabis industry and investors need to conduct thorough due diligence before investing. This industry is just getting started and continues to see growth even though it is constrained.
In early 2015, our analysts developed a model which projects cannabis to be a $500 billion industry by 2030. This growth will be primarily due to the medical applications, a booming hemp industry, ancillary businesses and from the sale of marijuana. To check it out click here!
We will continue to keep you updated on important state and industry developments!