Medicinal marijuana became legal in 2010, and 10 years later, recreational marijuana was legalized. Therefore, Arizona has become one of 19 states where recreational cannabis is legal, and one of 37 states where medicinal marijuana is legal.
READ ALSO: How Marie Paredes Saloum became a cannabis industry innovator
At GreenPharms, we have seen an uptick in dispensary growth due to customers with out-of-state licenses who come through our doors. We believe that this is due in part to the increase in people moving to Arizona, and in part due to people visiting the state and having access to legal weed.
According to Arizona’s Economy, The Census Bureau reported an 11.9 percent increase in the state’s population since 2010—the year medicinal marijuana became legalized. The Census Bureau reported that Arizona was at over seven million residents in 2020. Thus, there is proof that the cannabis industry is growing our economy in impactful ways.. Since recreational use was legalized, GreenPharms reported a 14% increase in sales at both its Mesa and Flagstaff dispensaries.
How is the cannabis industry impacting the community?
According to the Joint Legislative Budget Committee in its April 2022 report, Arizona has received a total of $149.7 million in marijuana tax collections from January to March.
The reason why recreational marijuana consumers pay a higher premium for cannabis is due to the 16% excise tax on non-medicinal marijuana sales. According to the SalesTaxHandbook, these excise tax dollars go to the “Smart and Safe Arizona Fund”, which subsidizes community colleges, law enforcement, fire departments, transportation departments, public health & criminal justice programs, and the state Attorney General. Therefore, when people are purchasing legal cannabis in Arizona, they are also supporting public programs for their community.
The legal cannabis industry is still in its infancy and is predicted to continue to expand. This growth will not only fuel cannabis shop owners and provide them with the necessary funding to develop their businesses, but it will also have a lasting impact on our community with the additional funds cannabis taxes provide.
Marie Saloum is the owner and founder of GreenPharms. Founded in 2013, GreenPharms is a signature “deli-style” dispensary with a large hybrid cultivation facility and extraction laboratory onsite. GreenPharms helps familiarize their hundreds of thousands of patients and customers with top-quality products. Proudly providing only the best products and unparalleled customer service, GreenPharms has received numerous Cannabis Industry Awards and recognitions as well as local accolades such as New Times Best of Phoenix Winner. GreenPharms has a location in Mesa and one in Flagstaff. For more, please visit greenpharms.com.
