Here’s how Prop 207 passage could light up Arizona marijuana industry

Business News | 26 Nov, 2020 |

Proposition 207 was passed earlier this month in Arizona, which legalizes marijuana in Arizona and allows for its recreational use. The passage of that proposition turn the marijuana business into a lucrative industry for the state.

Marijuana businesses across Arizona could potentially make higher profits off of selling to residents who are now eligible to purchase recreational marijuana.

Arizona has become the 13th state to legalize marijuana after voters passed this proposition by a 60% to 40% margin.

Marijuana possession becomes legal when election results are certified in about a month, and sales should begin in early March once dispensaries get licenses to sell recreational marijuana.

This proposition will legalize recreational marijuana for residents 21-years- and older to legally buy, possess, and consume one ounce of marijuana and grow up to six plants.

Smoking it in public such as restaurants, bars, parks, etc. will still be banned but it can be used on private property.

Recreational marijuana use will be legal in Arizona once all ballots are certified, which will most likely be in December.

Dispensaries in Arizona can make good business by selling marijuana to anyone who is 21-years-and older and with qualifying conditions that can benefit the state economically.

Although there are many pros and cons to this proposition, many residents are still concerned about it being a danger to communities, children and the safety of people. 

There are people who feel opposed to this legalization as it may bring danger to communities, including underaged children, and creating more opportunities to drive under the influence.

Consumers are subject to a 16% tax on all marijuana sales and in addition to the existing transaction privilege tax and use tax.

Proponents say this tax could generate $300 million a year in new revenues.

Revenue from the tax will be funded to community colleges, public safety, health programs, and the construction of roads.

The legalization of marijuana creates jobs, according to an analysis from MPG Consulting (formerly the Marijuana Policy Group). It shows that by 2025, the legal marijuana industry could create 18,005 jobs.

That makes the marijuana industry stronger than 90% of the industries in Colorado, according to an analysis from the Marijuana Policy Group.

Marijuana businesses are spending millions of dollars to expand their operations and to buy new medical licenses for customers.

These businesses are expected to hire thousands of employees to meet the demand for legal marijuana, additional employees will be needed when businesses will start to sell.

Proposition 207 is already stopping Arizona Police from charging people over the age of 21 for the possession of under once ounce of cannabis.

Adults with pending and all un-filed marijuana related charges could be dropped, or past charges expunged in Maricopa County under Proposition 207.

The marijuana industry can benefit from helping the state and

Show Buttons
Hide Buttons