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The first seven months of 2015 have been record breaking for Colorado. The state has already generated almost as much tax revenue from marijuana when compared to 2014. Colorado is on pace to double its numbers from last year and generate $125 million in tax revenue during 2015. Our analysts expect this number to continue to move higher year-over-year and we think this just the start of something big.
In 2014, Colorado brought in $76 million in tax revenue from marijuana. The state has already collected $73.5 million in taxes during 2015. Of the $73.5 million, $19.6 million has been set aside to fund Colorado’s public schools. This growth is outstanding when you compare it to 2014. During 2014, Colorado’s public schools received $13.3 million from the marijuana taxes collected.
Colorado Makes History
The Colorado marijuana industry is proving to be a more profitable business for the state than alcohol. During the 2014 fiscal year, Colorado generated $70 million from marijuana. During the same period, the state collected less than $42 million from alcohol taxes.
This development is historic because Colorado is the first state to generate more revenue from marijuana than alcohol.
A Ground Floor Opportunity
There are a number of investment opportunities in the Colorado cannabis industry and investors need to conduct thorough due diligence before investing. This industry is just getting started and continues to see growth even though it is constrained.
In early 2015, our analysts developed a model which projects cannabis to be a $500 billion industry by 2030. This growth will be primarily due to the medical applications, a booming hemp industry, ancillary businesses and from the sale of marijuana.
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