DENVER (CBS4) – Colorado’s marijuana industry is touting a major milestone.
The state has now received more than $500 million since recreational marijuana sales stared in 2014, according to Denver-based VS Strategies.
Their data says the money is made up of both taxes and licensing fees.
Most of the money has gone toward K-12 education, including funding school construction projects, drop-out prevent programs, and school health professionals.
Other groups, like the Adoption Exchange, also benefit from the revenue.
“Research shows that the difference in being a statistic and a success story is one caring adult. And that’s all it is, is one caring adult who’s invested in the future. So work on the Adoption Exchange is about finding that one caring adult,” said Lauren Arnold, the Adoption Exchange’s Executive Director.
The research does not include local taxes and fees.
it shows from the beginning of 2017 until May 31, Colorado has received $96.3 million.