How Medical Marijuana Has Affected the Economy of Legalized States

Surprisingly, the medical potential of cannabis has been widely misunderstood for years. On a brighter note, the cannabis plant is constantly undergoing intense scientific research that indicates its ability to fuel brain cell growth, ease the pain, reduce the symptoms of autism and even cure cancer. Furthermore, medical marijuana has been linked to a reduction in suicide rates and since the plant’s psychoactive compound, tetrahydrocannabinol (THC), can induce feelings of euphoria, it’s not surprising why.

With such a drastic change in legalization around the United States (some States anyway), aswell in economic development was to be expected. Even countries like Greece are now hoping to get high on marijuana by selling it to the people who want and more importantly, need it. In fact, legalization in Greece is predicted by the end of 2017!

Let’s get back to the subject of US legalization for a moment, shall we? Nevada managed to rake in $27M in the first month of legalization and Colorado was earning over $100M a month as of July 2017, making pot a golden opportunity for the economy. Let’s find out exactly how marijuana has made a difference to the economy of legalized states.

Medical Marijuana is a Multi-Billion Dollar Industry

Did you know that marijuana tax revenue surpassed $1 billion in 2016? Market research forecasts future growth by 2021, when sales are expected to grow by 30%. Sales exceeded $6.8 billion in 2016, according to Forbes. With the legal market expanding in Canada, too, the industry is the fastest-growing since cable television and broadband Internet!

Aside from the increase in revenue, marijuana is a system that is reducing crime rates. Labeling, packing and processing are conducted safely and properly, which means that users can consume cannabis with minimal risk.

The Positive Economical Influences of Marijuana Legalization

Even the people who formerly (or still) frown upon marijuana simply cannot deny its positive impact on the US economy. Tax revenue is increasing, debts are being relieved and the following economical wonders are transpiring:

Legalization is Creating Job Opportunities-

 By the year 2020, 250 million jobs will be created in the cannabis sector. This information comes from a published report by New Frontier Data. When compared to government-related jobs and manufacturing jobs, legal cannabis jobs are significantly higher. Healthcare-focused industries are expanding quickly, with medical marijuana being at the top of the list of growing sectors.

Reduced Government Expenditure-

When the economy is in debt, everyone experiences the negative effects. The amount of money being used to manufacture and administer prescription drugs is contributing to undesirable government expenditure. Although medical marijuana requires ongoing research, the plant’s life-changing ability is broadening treatment opportunity for medical patients with cancer, autism, depression, chronic pain, arthritis and more. By 2020, over $11 million could be raked in by the adult recreational market, so just imagine the money that could be earned with medical marijuana products!

Stronger Infrastructure and Education System –

Fewer debts mean that the government can invest much-needed funds into infrastructure, from feeding the homeless to creating cannabis-based jobs that are taxable. Additionally, the eruption in demand for cannabis workers has led to more people enrolling in education within the medical and recreational marijuana industries. Aside from the chance to gain a fulfilling ‘green’ career, economic improvement is enabling students to earn better certifications.

Better Control of Criminal Organizations –

Illegal drug sales occur worldwide and fortunately for the US, changes in marijuana legalization are proving valuable for criminal organization management. When monitored and sold at legal dispensaries, a consumer can buy a cannabis product that is safe and legal. Not only this, but marijuana legalization makes it harder for dealers to operate on the streets, ensuring lower crime rates and prosecutions.

Broader Medical Options for Seniors and Children –

The chances of an elderly individual or a small child wanting to feel the psychotic effects of marijuana are pretty much non-existent. Although relaxing THC-rich strains can benefit people with spasms and sleeping problems, the medical options are progressively growing for certain medical patients. Medical marijuana research proves how extracting CBD oil can harmlessly treat Alzheimer’s, Parkinson’s Disease, autism, and epilepsy, minus the psychoactive element.

Combining medical marijuana sales with the broad scope of consumption tools on the market means that legalized states are sitting on a gold mine. The economy of the United States is flourishing. This is because an increasing people who have given up on alternative medical treatments are buying cannabis paraphernalia, including tinctures, ‘cannabutter machines, extraction equipment and vapes, to name a few tools.

Enjoy the Convenience of Marijuana Delivery Services

Should you be an elderly medical marijuana patient, the parent of a young child who depends on cannabis treatment, or perhaps someone with a busy lifestyle, why not order marijuana delivery SF? Delivery services ensure privacy, convenience, and versatility. Consumers can experiment with all kinds of strains, in the knowledge that the cannabis is organic and chemical-free.

Aside from presenting buyers with top-shelf herbs, marijuana delivery companies will transport the green stuff directly to your door. Although marijuana delivery SF is a convenient option for all, it may be worth stepping inside a dispensary to first assess the product range and ask the ‘budtender’ questions.

Leave a Reply