Modeling estimates $984 million in Arkansas marijuana sales by 2027, tax gain of more than $260 million – talkbusiness.net

Arkansas voter approval in November of adult use (recreational) marijuana could add $2.4 billion to the state’s economy over five full years of implementation, and add up to 6,400 jobs by 2027, according to modeling from the Arkansas Economic Development Institute (AEDI).

The AEDI, housed at the University of Arkansas at Little Rock (UALR), was commissioned by Responsible Growth Arkansas (RGA) to conduct an economic modeling forecast of legal marijuana sales in Arkansas over a five-year period. RGA is the group that worked to get the proposed amendment on the November general election ballot.

If the issue is approved by voters, it would amend the existing law for medical marijuana and allow those who are at least 21 to purchase cannabis from licensed dispensaries. Existing medical marijuana dispensaries would receive licenses to sell recreational use cannabis at the dispensaries and obtain licenses to establish recreational cannabis dispensaries at another location. Licenses also would be available for additional dispensaries and cannabis cultivation facilities.

According to the proposed amendment, adults could carry up to 1 ounce of cannabis and use and consume it. The law would limit the number of dispensaries and cultivation facilities to 120 and 12, respectively. Of the 120

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