A new annual report on marijuana industry trends published this week by Denver, Colorado officials showcases how the local government has distributed hundreds of millions of dollars in cannabis tax revenue to public initiatives such as homelessness services, affordable housing and education in the first 10 years of legal sales.
While marijuana sales and the resulting tax and fee revenue were down for the second consecutive year in 2023, the report also showed a continuation of another trend: illicit cannabis activity is declining, offering more evidence about the potential benefits of enacting a system of regulated sales.
Denver was the first city in the U.S. where adult-use retailers opened up in 2014 following voter approval of a statewide reform initiative on the ballot in 2012, so the new report is especially notable in that it covers the first decade of legal cannabis sales.
For residents wondering how the city is allocating tax revenue from those sales, the report breaks down where those dollars went in 2023:
Homelessness Services: $7,950,350 Affordable Housing: $7,533,272 Malone Fund: $3,737,674 Education: $3,320,871 Regulation: $2,360,672 Enforcement: $2,141,298
Via City of Denver.
Meanwhile, illicit cannabis activity has steadily declined as the city’s market has evolved,
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