Study: Marijuana Legalization Would Benefit Illinois Taxpayers, Economy

La Grange – PRESS RELEASE: In the wake of Michigan becoming the tenth U.S. state to legalize marijuana on Tuesday, new research finds that the taxation and regulation of marijuana in Illinois could create nearly 24,000 new jobs, boost the state’s economy by $1 billion per year, generate over $500 million in new state and local tax revenue, and reduce annual law enforcement expenditures. The study was conducted by the Illinois Economic Policy Institute (ILEPI) and the Project for Middle Class Renewal (PMCR) at the University of Illinois.

Since 2014, Illinois has decriminalized possession of small amounts of marijuana and enacted a pilot medicinal cannabis program, but recent polling has found that two-thirds of Illinois voters–including majorities of both Republicans and Democrats–would support the taxation and regulation of recreational marijuana.

“Though decriminalization has already dramatically reduced law enforcement costs, police and courts still spend millions of dollars each year prosecuting marijuana

... read more at: http://www.cannabisbusinesstimes.com/study-marijuana-legalization-illinois.aspx

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