Nevada Pot Group Projects Billion-dollar Industry by 2024

Mandalay Bay Hotel - Las Vegas, Nevada, USA, 5.10.2013

Nevada Pot Group Projects Billion-dollar Industry by 2024

LAS VEGAS — A marijuana trade group says pot production, processing and sales could be a billion-dollar industry in Nevada by 2024.

That’s a key finding in an economic analysis being released Friday by the Nevada Dispensary Association.

It projects that pot-friendly policies in tourist-oriented Las Vegas and Reno could make Nevada one of the nation’s largest marijuana marketplaces.

The report comes weeks after state officials reported that first-year taxable pot sales totaled almost $530 million statewide.

Nevada reaped just under $70 million in tax revenue since sales started July 1, 2017, including $27.5 million for schools.

The analysis by Las Vegas-based RCG Economics didn’t look at public safety, health, human services, schools or criminal justice costs associated with legalization.

Nevada is among nine states and Washington, D.C., that have broadly legalized marijuana.

The Associated Press

Comments