“Rarely does an industry produce over $1.2 billion in revenue in its first year. This number shows that the legalization of cannabis is something Arizonans believe strongly in and the many benefits it contributes to the state’s economy,” said Samuel Richard, the Executive Director of the Arizona Dispensaries Association (ADA).
Before considering December’s sales, the group claims that tax revenue has surpassed $190 million. According to the ADA, this means the state of Arizona will collect $215 million in tax income in 2021.
According to the ADA, Arizona outperformed other Western states that legalized recreational marijuana, notably Nevada, which recorded roughly $425 million in revenue in its first year.
Revenue earned is a lot more than the state legislature expected. As the program became “more fully operational in the following several years,” it was predicted to generate roughly $166 million in yearly income.
