Denver has recorded over $500 million in tax revenues from both adult-use and medical cannabis since 2010, according to city data. As Colorado marks a decade since leading the charge in adult-use marijuana legalization, the state has amassed over $2.5 billion in cannabis tax since 2014.
As of August 2023, Denver’s yearly cannabis purchases stood at over $300 million and the tax dollars have been channeled into various public initiatives. Denver has allocated $61.7 million toward affordable housing, with other funds supporting homelessness services, education, small businesses and opioid interventions.
As reported by Marijuana Moment, a recent state analysis showcased Colorado’s tax earnings from cannabis surpassing those from alcohol or cigarettes in the last fiscal year. This revenue has benefited numerous governmental programs, especially in education and health.
– Read the entire article at Benzinga.
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