6 Ways Legalization Is Already Positively Affecting Nevada

6 Ways Legalization Is Already Positively Affecting Nevada

Marijuana Legalization is a Big Boost to States - 6 Ways Nevada Benefited from Legalization from CannabisNet on Vimeo.

Alternate Title: Legalization Is a Boon for Nevada — In More Ways Than One

In July 2017, Nevada legalized marijuana for recreational use, though it had been legal for medical use — including private cultivation — since 2008. In the 10 months since the legislation passed, it has had huge positive impacts on the state in several different and largely unforeseen ways.

How is legalization turning out to be a great thing for Nevada?

1. New Jobs

Any industry that creates new jobs is a boon to its state, and legal marijuana production is no exception to this rule. In the five months between when the legislation went into effect and the end of the year, the marijuana industry created more than 7,000 new jobs in the area.

2. Taxes for State Use

One of the most commonly touted benefits of marijuana legalization is the taxes the state will be able to collect. Between the 15 percent wholesale tax, and the additional 10 percent tax on recreational marijuana sales, Nevada managed to collect more than $30 million in tax revenue in the first six months of legalization.

It is also estimated the marijuana industry in Nevada alone will be worth more than $622 million in the next two years.

3. Businesses Are Finally Turning a Profit

Between 2015 and 2017, marijuana dispensaries could only sell their product to individuals who qualified for a state medical marijuana card. They kept their doors open — barely — to ensure those who needed it could obtain their medication, but most businesses were working at a loss.

Once legalization took effect on July 1, 2017, these businesses became profitable almost overnight as customer bases expanded from medical users to recreational ones.

4. Privacy for Medical Patients

More and more patients are choosing to pay a little more — due to the additional 10 percent tax on retail sales, in addition to the wholesale tax of 15 percent they're already paying — in exchange for being able to purchase their cannabis without submitting their names to the state or taking regular trips to the doctor.

The medical program still has its benefits — namely, medical marijuana users can possess more than twice the amount of cannabis recreational users can, and patients under the age of 21 can still possess marijuana. However, for many patients, the extra 10 percent tax is worth it for being able to get away from the sometimes overbearing medical program.

5. Better DUI Laws

Just because recreational use of marijuana is legal in the state of Nevada doesn't mean it's cool — or legal — to drive under the influence. A driver under the influence of marijuana is subject to many of the same laws and penalties as one under the influence of alcohol. If you get pulled over for a suspected DUI, you must complete a field sobriety test and a blood test.

Nevada passed a law in 2017 that eliminated urine and saliva tests for DUI arrests, leaving the blood test as the only option. By driving on Nevada roads, you are issuing your implied consent to this blood test if you get pulled over for a DUI.

In the era of ride-sharing services like Uber, designated driver programs and other more progressive and safe approaches to ending our problems with intoxicated driving, many are viewing this legal change in Nevada as a positive impact of the legalization of marijuana in the state. Marijuana might not be as severe as alcohol concerning impairment, but it can still affect reaction times and judgment, leading to car accidents.

6. Increased Real Estate Investments

Tax revenue and new jobs aren't the only economic benefits coming from Nevada's legalization. The state's real estate industry has also seen some unprecedented growth. Nearly every state that has legalized marijuana has seen a boom in real estate, especially in commercial properties people are repurposing for the cultivation and sale of cannabis. In Nevada alone, investors have poured more than $300 million into the market in the 10 months since legalization.

This level of investment also increases property values. Two cities in Orange County, Calif., have seen commercial property values nearly double in the last year, and the same phenomenon occurred in Denver, where leasing prices for warehouses and commercial properties climbed 50 percent in the five years between 2010 and 2015.

National Attention

The legalization of marijuana in states like Nevada has shown a host of different benefits their residents hope to enjoy for years to come. The success that Nevada and other legalized states have seen regularly draws national attention given our economic crisis as a country. Our higher-ups should really consider the incredible economic benefits that legalization would have on a national scale. Unfortunately, they probably won’t.

It’s no secret that legal recreational marijuana use doesn’t have a lot of friends in high places — the federal government still classifies it as a dangerous Schedule 1 drug, and Attorney General Jeff Sessions has already declared his plans to try to punish states that legalize the greenery. That’s really too bad for him — the guy seems like he could use a toke.

Fortunately for Nevada, though, the future looks bright — and very, very green.