Marijuana is a drug originating from a weed or plant that is used for recreational purposes to feel good and as medicine to heal various illnesses. Marijuana also referred to as Cannabis sativa, weed or pot is illegal in most countries in the world with claims that it has adverse side effects including the cause of lung disease.
Marijuana was legalized in Nevada on July 1st, 2017. Nevada became the fifth state to legalize this drug in the United States. Since its legalization, many places have been developed where people can buy pot, open to both locals and visitors alike. The primary challenge is that not so many places have been legally selected for smoking.
Some of the benefits to this state since its legalization include;
1. It has increased Revenue
Nevada as a state has benefited from revenue and tax collected from the sale of marijuana in both retail and wholesale. Some of this revenue is used for the state development activities as well as funding the local government while the rest is used for the Nevada rainy day fund.
2.Creation of Jobs
Recent research by the Nevada dispensary association has shown that close to 7000 new jobs have been created in the marijuana industry. Some of these jobs include the processing of weed into different products like medicine and sale of these products
3.Investment in the real estate Sector
Marijuana companies have substantially invested in the real estate sector. Figures show that these companies own more than$300M worth of properties.
Apart from recreational use Marijuana is known to treat a wide range of illnesses like pain and tumors resulting from cancer. From its legalization marijuana has been widely used and from its frequent use, it has resulted in it to be known as a therapeutic medicinal drug.
4.An increment in business owners’ net worth
Bussines owners in Nevada have confirmed that their initial investment in this industry has started to yield fruits. These investments include establishments like labs for product testing, planting, and processing not forgetting outlets that sell these products,
5.Growth in Banking Industry
As more people continue investing in the marijuana business, the buyers and sellers of the drug have thought of an alternative to using the currency in a digital form. These means that banking institutions have to grow in such a way that paperless cash is used which may, in turn, has led to growth in the banking industry.
In conclusion, marijuana has been more beneficial to the economy of Nevada than it was thought and in return, this has led to the growth of several industries which boost the social and economic status of the residents.