Cannabis has been one of the news headlines across countries for the ongoing debates of legalizing it. While several states have considered it as legal to use marijuana medically and recreationally, there are others where the marijuana is banned.
There have been estimates of economic benefits coming in from use of marijuana for the public. Not only will it strengthen the economy but also generate huge revenues for the state and federal governments.

Increase in revenue

Legalization of marijuana means introduction of something which can increase the tax revenue for the government. As the use of the drug already exists in the market illegally, legalizing it would mean bringing in a product which already has a market and can be taxed easily by the government. Hence it brings a source of revenue to tax and generate funds.

Drive in income and jobs

Marijuana legalization would mean introduction of nurseries for the growing of marijuana and bringing in people to economic activities helping marijuana industry flourish. Of course it will bring in jobs for people, income and setting up of companies who deal in the drug. There will be a growing sector of industry where the entrepreneurs, skilled and unskilled labor as well as executives will drive the marijuana industry.

Brings investment opportunity

There are huge investment opportunities for investors when there are companies trading on it on a larger scale. The possibility of getting companies being listed on the stcok exchange, selling shares or investment bonds is not far away. With a growing industry there is always a chance to invest funds and grow with the use of the drug for investors. And as the growth opportunity is immense, there is increased drive of ROI.

Money saver!

Although Marijuana can be expensive for people, the running of the federal laws in fact cost a fortune to the government. With the legalization the costs associated with the enforcement of the laws and legalization processes would be decreased to a great extent. This will enhance the tax revenue of the federal government while saving a lot on the enforcement costs.

Marijuana legalization is an idea which can be economically beneficial for government, people at large and medical industry as well. There will be generation of revenue, jobs and an industry helping the growth of an economy. While the idea is still subject to a lot of debate, there are benefits worth considering in this era!