Could Legalizing Marijuana in Virginia Result in $500 Million?
Posted on Feb 16, 2012
Tom Jackman of the Washington Post recently wrote about the possible financial impact of legalizing marijuana in Virginia, suggesting it could yield nearly $500 million for the state. He wrote the article after a Virginia delegate expressed interest in studying how much tax revenue could be collected if Virginia were to legalize the drug. Jackman has read many of the reports on the same subject, and concluded that $250 million might be earned if Virginia sold marijuana at its state-run ABC stores (which currently sell alcohol), and that $245 million could be saved in enforcement costs (police enforcement, courts, and jails). As he wrote, that amount of money could go far in improving our state's schools and roads, so it just might be worth thinking about