According to a new economic analysis, Texas can give billions of dollars in tax revenue and create numerous jobs if marijuana is legalized.
It was found that, given the estimated adult marijuana market, cannabis sales in Texas would be $2.7 billion per year. And if the state had followed Colorado’s tax model, it could have received over $1.1 billion in marijuana taxes over a biennium.
In addition, the report predicts that 20,000-40,000 job positions will be created as a contribution to supporting positions for contractors and construction firms, electrical and water service providers, HVAC system manufacturers and installers, process equipment manufacturers and retailers and other professionals. “
“We also expect this to support the hospitality industry, which will benefit communities that rely on tourism; especially those recently hit hard by the novel coronavirus such as San Antonio, Houston and Corpus Christi, ” the report says.