It is now almost six years since the first state in the United States legalized the sale, growth, and purchase of cannabis. Many states have followed suit while others have remained cautious about the legalization. Nonetheless, there are still some states that are on the verge of cannabis legalization, as the cannabis legalization bills are still being processed. It is worth noting that legalization of cannabis comes with its fair share of benefits that every state that is on the verge of legalizing cannabis should consider. This article will focus on the economic benefits that legalizing cannabis brings to the state.
It creates job opportunities
As a state, the number one concern that they should have ought to be the welfare of their citizens. With one of the biggest problem in many states is unemployment. Currently, in states that have not yet legalized cannabis, the sale is being done through the black market. However, with legalization of cannabis, dispensaries will crop up in every corner of the state, as business owners compete for clients. This will in turn provide job opportunities thus providing a source of income to many households. In addition, the farmers that specialize in the growth of cannabis will get a market where they can sell their produce and thus get a source of income.
Increases the tax revenue
The number of people that consume cannabis around the country will surprise you. however, due to the criminalization of the sale, growth, and purchase of cannabis in states that have not yet legalized marijuana dispensary the plant, states and the country at large never benefit from the high revenues that the market hold. With the shrinking economy around the world therefore, it would be wise for states that are on the verge of legalizing cannabis to speed up the process, so as to increase the revenue share of their states. A state can therefore take the proceeds from the legalization of cannabis revenue, to develop their states and provide services to their citizens.
Provides for investment opportunities
Owing to the illegalization of cannabis in many states, business owners are not free to invest their money in the market. All they can do is start selling the product through black market, which can be very dangerous owing the sale of cannabis is illegal in some states. This being the case therefore, legalization of cannabis gives investors and business owners the leeway to invest their money in the industry. In addition, the legalization of cannabis will empower investors to trade in the market freely and list the stocks that they get in the stock exchange thus contributing to the growth of the economy