Legal Recreational Marijuana Could Bring In Big Bucks For NY State
While our New York state legislature debates the notion of legalizing recreational marijuana, a new report suggests "how much money could come into the state if it happens." This according to WGRZ news today.
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The non-partisan Rockefeller Institute looked at the impact on the high and low end. They found on the low end, it would create a total economic output of $4.1 billion.
The report also concludes legalizing recreational marijuana could lead to almost 31, 000 new jobs.
The higher-end market estimate assumes marijuana would sell at a higher price and people would consume more of it. That analysis found New York could see 63,271 new jobs with a total economic impact of $8.4 billion.
One thing about the report is that it doesn't look "at the downside of legalization, and some of the costs that would be associated with recreational marijuana."
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