PHOENIX - Marijuana is turning out to be a big business for the state of Arizona.
The Arizona Dispensaries Association announced how much state tax revenue was generated by marijuana sales.
Arizona legalized marijuana in November, 2020.
The cannabis industry is now expected to bring in $1.5 billion in tax revenue for 2021, according to figures from the Department of Revenue.
The ADA says that figure does not include money saved by law enforcement and the justice system by not using resources to prosecute marijuana users.
"The economic impact of the cannabis industry is substantial. Beyond employing nearly 25,000 Arizonans and the overall economic impact of the industry, the tax revenue from cannabis sales will support an improved quality of life for all Arizonans. When more than 60% of Arizona voters approved the legalization of regulated, adult-use marijuana last year, they empowered the state to expand investments in critical services and programs like education, transportation, and youth support services, and the things that matter to every Arizonan," stated Sam Richard, ADA Executive Director.
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