Colorado Residents Are Happy With Legal Weed: A Decade Later They Especially Praise Positive Economic Impact

‌More than a decade after Colorado opened its first legal cannabis shops, residents seem to be delighted.

New polling results reveal that the majority (71%) of voters continue to support the legalization of recreational cannabis use. As many as 63% think the tax revenue generated by marijuana sales has been important for the state's economy. 

Earlier this month, the Colorado Department of Revenue reported it has collected more than $2.68 billion in marijuana tax and fee revenue since legal adult sales began in January 2014. As of January of 2024 alone, taxes brought in $43.55 million. The Centennial State was the first to launch recreational cannabis sales in the United States.

"Support for legalization in Colorado has grown significantly since voters made the decision to end prohibition and start regulating marijuana for adult use," stated Chuck Smith, president of the board of directors for an alliance of cannabis business leaders, Colorado Leads. "We now have more than a decade of experience that shows legalizing and regulating marijuana works. Colorado's experience has also proven that many legalization opponents' fears were unfounded. It should come as little surprise that there is now far less opposition to legalization."

Economic Impacts, Jobs & Possible Looser Regulations 

One in five Colorado voters (21%) said they have friends, family members, or acquaintances who work in the industry, either directly for a marijuana business or for a non-marijuana business that provides products or services that are used by marijuana businesses. Colorado has nearly 23,400 full-time equivalent cannabis jobs, according to an annual jobs report released this month by Colorado-based marijuana staffing company Vangst.

As many as 70% of survey participants think they should be no stricter than those regulating alcohol. The Colorado Legislature is currently considering a bill (SB24-076) aimed at streamlining marijuana regulations in the state. Additionally, a bipartisan measure seeks to remove a recently implemented rule that mandates testing of cannabis for a fungus called Aspergillus. 

In addition to changes to cannabis testing, the new bill would also:

• Address the issue of the upcoming labeling mandate for THC-infused products made from remediated marijuana;
• Give the green light to dispensaries to sell consumable goods – other than alcohol or tobacco – that don’t contain THC, CBD or any extracted cannabinoids; and
• Extend cannabis licensure from one to two years, without any changes in fees.

‌"The past couple of years have been challenging for the regulated cannabis industry, so it is heartening to see most voters recognize its significant economic contribution to Colorado," Smith continued. "The state lost several thousand cannabis jobs since last year, but it is still creating countless opportunities for Colorado workers and businesses. Marijuana tax revenue has far exceeded original expectations, generating more than $2.6 billion for everything from school construction projects to mental health services.

The statewide survey of 698 voters was conducted April 8–9 by Public Policy Polling. 

Related Links: 

Colorado Cannabis Sales Experience Second Consecutive Monthly Decline In February 

Goodbye To Weed Posts In Colorado? Lawmakers Target Social Media Promotion Of Cannabis And Psychedelics 

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