Colorado legalized marijuana New Years Day and the state economy is already reaping the benefits. Projections estimate that the state will make $130 million the first year. There is no doubt that marijuana will be a growth industry if the first week of sales are any indication. Many of the Colorado dispensaries boasted of running out of inventory; some are even considering expansion.
Aside from the individual businesses selling the product there are larger scale discussions going on regarding growing the industry. According to Madame Noire, “theÂ Denver Post is reporting thatÂ High Times magazine executives are launching a new private-equity fund called the HT Growth Fund, which plans to raiseÂ $100 million over the next two years to invest in cannabis-related businesses, with individual investments expected from $2 million to $5 million per company.”
Read more on how this will affect black Americans here