As Pennsylvania lawmakers step up their push for marijuana legalization, a new report projects that the state would see up to $2.8 billion in adult-use sales in the first year of implementation, generate as much as $720 million in tax revenue and create upwards of 45,000 jobs.
The advocacy organization Responsible PA teamed up with the firm FTI Consulting to produce the analysis, which looks at a number of potential economic impacts of legalization for the Keystone State under different scenarios for how robust the legal cannabis market would be.
By comparing the experiences of other states that have enacted the reform, as well as trends in the state’s existing medical cannabis market, analysts determined that Pennsylvania recreational marijuana sales would range from $1.7 billion to $2.8 billion in the first year.
Assuming a six percent retail sales tax and a 15 percent wholesale cannabis excise tax, and factoring in other potential tax sources such as income tax from new cannabis workers, the report says the state would bring in $420 million to $720 million in marijuana tax revenue in the first year.
Additionally, FTI estimated that adult-use legalization would create between 26,250 and 44,500 new jobs.
“Nearly two-thirds of
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