Keep Reading
Cannabis dispensaries contribute to local economic growth in more ways than you’d imagine. Going beyond supporting the health and wellness of local residents, tax revenue generated by dispensaries can uplift community development and programs that help the less fortunate. In fact, in Denver, Colorado, $7.3 million from cannabis tax revenue went to supporting homeless services and housing. Not to mention, as of today, the legal cannabis industry generated over 440,000 jobs—a 5.4% increase in the past year.
Far from being a drain on resources, cannabis businesses strengthen communities by increasing revenue, enhancing public safety, and supporting local economies. Cannabis businesses contribute to municipalities in several ways:
- Increased Tax Revenue—Dispensaries generate significant local tax revenue, often reducing the tax burden on residents and making towns more attractive places to live.
- Enhanced Safety—Due to strict security regulations, dispensaries are equipped with extensive surveillance systems. These cameras have helped law enforcement solve crimes by providing clear footage of parking lots and roads—most often unrelated to the cannabis business itself.
- Economic Benefits—Rather than decreasing property values, cannabis businesses have been shown to boost real estate prices, contributing to overall economic growth.
Cannabis is becoming more widely accepted, and businesses should leverage that growing normalization. At the end of the day, dispensaries are just like any other business. It’s important that all dispensaries make it clear to the communities they serve that they’re here to be a partner with the local community to drive economic growth and sustainability. The more we embrace that and collaborate with other businesses, the more we normalize cannabis. It’s about building each other up and fostering community engagement.
Below are some ways dispensaries can get involved with their local community to drive immense economic impact.
Read Brendan’s 8 tips for dispensaries to drive local economic impact at fatnugsmag.com!
Article Written by
