After Legalizing Weed, Unemployment in Colorado Lower Than Rest of Country
12th July 2017
By Carey Wedley
Guest Writer for Wake Up World
Three years after legalizing cannabis, Colorado has the lowest unemployment rate in the country. “While the national unemployment rate dropped to 4.3 percent in May, the lowest since 2001, Colorado’s jobless rate is the nation’s lowest at 2.3 percent,” CNBC reported.
According to Governor John Hickenlooper, multiple factors have contributed to Colorado’s job growth, including the state’s business-friendly policies. He touts the state’s very low business tax rate, noting Colorado has “one of the lowest business income tax levels at just a little over 4.6 percent.”
This approach has helped create over 60,000 jobs in the clean energy sector, a fact that should please both business and environmental advocates. One of the main factors in Colorado’s successful economy, however, is undeniably the cannabis industry.
Last year, cannabis generated $1.3 billion in profit, which yielded nearly $200 million in tax revenue that the state is using for various programs, including education, substance abuse and cannabis awareness programs for youth, and even the Attorney General’s office.
Further, with over a billion dollars in business, jobs undoubtedly follow.
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