by Client Care
on Friday, January 10th, 2014 at 7:53am.
So we have to touch on the whole legalizing marijuana topic which our state has become known for worldwide simply because it is going to, without a doubt, affect our state's economy and its attractiveness to people and businesses for relocation.
Whether or not you agree with the decision to legalize marijuana for adult recreational use, the one thing that cannot be denied is the State of Colorado is expected to see billions in additional revenue due to the taxation of this new industry over the next few years. Of course, jokes and comments regarding the "purple haze" that can be seen as you fly over Denver are inevitable, but so is job growth across several industries like healthcare, hospitality, agriculture and tourism. In addition, scientific developments and research pertaining to the cultivation, effects and benefits of marijuana and its many different varietals will also be pioneered in our state generating added opportunities.
While it is much too early to tell how the pot game will play out for the State of Colorado, there is a lot of information out there to be had about what is going on here and why our state has chosen to be the trendsetter of the industry. In fact, I came across the Daily Camera’s recent post which is a Q&A of the top 64 questions regarding legalized Mary Jane in Colorado which was very enlightening. And, here are just some of the answers which I found to be the most informative. Check out their full article here!
The first $40 million generated in tax legal marijuana tax revenue is supposed to go toward school construction. After that, it will be funneled into efforts used to regulate the sale of legal marijuana and their stores, as well as provide educational campaigns surrounding marijuana and its use. Additional funds which will exceed these needs have not yet been allocated, but many Colorado cities are already fantasizing about what they will spend the money on next!
The State of Colorado just launched a seed-to-sale tracking system called MITS (Marijuana Inventory Tracking System) that is supposed to help regulate where each and every plant goes for sale and is accounted for by an inventory. How it works: each seed is given a tracking device which must stay with the plant during its entire lifecycle and through its sale. Although not exactly perfect yet, this system is supposed to make sure that illegal pot is not being sold in dispensaries.
Colorado's Marijuana Enforcement Division is made up of 25 criminal investigators and six to eight compliance investigators which will use MITS as a means of monitoring store’s sales. Considering that there will likely be hundreds of recreational marijuana stores, state officials say investigators will use the data in MITS as part of a risk-based enforcement approach, rather than making consistent, frequent checks at all stores, grows and infused-products businesses.
Colorado has seen an influx of people looking to relocate here so they may obtain a medical marijuana license, including families with children suffering from serious health issues like seizures.
You cannot travel out of the state with legal marijuana or into places like National Parks and Forests.
The majority of the medical-marijuana industry’s biggest players are “people with serious business backgrounds.”
The State of Colorado’s law enforcement, as well as local police departments are dishing out tons citations these days for public use and making arrests for driving while under the influence. They have set a standard for the amount THC one can consume before being considered stoned, thus making convictions like DWI’s, DUI’s, DWAI’s easier for the prosecution.
Although Colorado has recently been getting the most attention for recreational pot use, we are not the only state in which it is already legal, nor the only one currently undergoing the same legislation processes.