Colorado’s Marijuana Industry Is Now Bigger Than Some Countries’ Entire GDP

THE HUFFINGTON POST | By Ryan Grenoble | 2/10/2017 05:19 pm ET

The state collected almost $200 million in taxes last year

DENVER ― Colorado’s marijuana industry soared to new highs in 2016.

According to data released Thursday by the Colorado Department of Revenue, dispensaries in the state sold $1.3 billion in medical and recreational marijuana last year, generating close to $200 million in tax revenue for the state.

For perspective, that’s slightly more than the entire 2015 GDP for the island nation of Antigua and Barbuda.

Cities in Colorado also collected millions of additional tax dollars, as each city typically tacks on extra duties in addition to state taxes.

Colorado dispensaries sold slightly over $699 million in medical and recreational marijuana in 2014, the first year sales were legal in the state. That figure leaped to $996 million in 2015.