In July 2016, the coalition released an Economic and Fiscal Benefits Analysis prepared by Las Vegas-based RCG Economics in conjunction with the Marijuana Policy Group (MPG). The 88-page report provides detailed sales, tax, employment, and total economic activity projections for Nevada from the passage of Question 2 and the establishment of a regulated, adult-use marijuana industry. (The figures included in the report do NOT include sales, taxes, employment, and economic activity related to medical marijuana.)
Notable projections from the report include:
- $393 million in annual sales of adult-use marijuana in Nevada in 2018, which will increase to $485 million by 2024;
- more than $1.1 billion in overall economic activity in the state related to the adult-use marijuana market;
- approximately 3,300 jobs directly in the adult-use marijuana industry and 6,200 jobs supported overall; and
- more than $60 million in excise and sales tax revenue annually, including approximately $20 million per year for Nevada schools.
What Supporters Are Saying
"No matter how you look at the issue of marijuana, it is clear that we will be better off regulating it like alcohol, rather than having it sold in the underground market. There will be tax revenue from sales, tax revenue from businesses, and tax revenue from employees. None of that is generated when marijuana is sold illegally.”