Marijuana Legalization Is Best Option to Stimulate Connecticut’s Economy

Connecticut’s budget has been proposed by Governor Malloy, and it isn’t good news. It looks like the state is facing a $1.68 billion deficit. The governor’s plans are to make big cuts to public employees and teacher retirement obligations. He also wants to create $200 million in new taxes.

Not all lawmakers agree with this plan, according to Hartford Courant. Some lawmakers believe that regulating marijuana like alcohol will create jobs, stimulate local and state economies, and aid the state in reducing its budget crisis. Lawmakers are seeing that the industry as a whole, nationwide, has created as many as 150,000 jobs. According to Colorado statistics, over 18,000 full-time jobs were created in 2015 alone.

Connecticut also wants to attract younger generations to reside there. In states like Colorado and Oregon, where recreational marijuana is legal, younger generations are taking up residency there. Connecticut is worried about its net migration, as it has the fourth worst in the country. Millennials, according to a Harris poll, consider legal marijuana 20-percent of the time as a reason to determine where to live.

Connecticut also wishes to increase its tourism. Where recreational marijuana is legal, tourism has increased dramatically. This helps stabilize local economies. Connecticut’s Office of Fiscal Management is already estimating that legal marijuana would generate over $100-million in taxes statewide. Local governments would also reap the benefits of those tax dollars.