August 17, 2012 07:49 PM UTC

Report: Amendment 64 Would Produce Big Bucks for Colorado

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• by: ColoRabble

(Disclosure: I am a proponent of Amendment 64)

An economic analysis conducted by the Colorado Center on Law and Policy has concluded that the initiative on this year’s ballot to regulate marijuana like alcohol, Amendment 64, would generate tens of millions of dollars in new revenue and savings for the State of Colorado and its localities.

According to the CCLP report, passage of Amendment 64 would:

• initially result in $60 million annually in combined revenue and savings for state and local governments in Colorado, which could double to more than $100 million within the first five years of implementation;

• save local and state law enforcement officials more than $12 million in the first year of operation;

• generate $24 million annually in state revenue for the Building Excellent Schools Today (BEST) capital construction program; and

• create more than 350 new jobs, the majority of which will be in the construction industry.