Pubdate: Sun, 19 Jan 2014
Source: Las Cruces Sun-News (NM)
Copyright: 2014 Las Cruces Sun-News
Contact:  http://www.lcsun-news.com/
Details: http://www.mapinc.org/media/674
Author: Brook Stockberger

WOULD POT LEGALIZATION BE GOOD FOR THE NEW MEXICO ECONOMY?

LAS CRUCES - The states of Colorado and Washington have legalized the 
sale of recreational marijuana. Would such a move in New Mexico be 
good for business?

The Associated Press recently reported that Robert Pack, president of 
the Southeast New Mexico Medical Cannabis Alliance, said that 
Colorado's recreational marijuana sales reached $1 million on Jan. 1, 
the first day of legalization law. Sales of marijuana in Washington 
won't begin for a few months.

"I would like New Mexico to embrace that economic opportunity," Pack 
said. "This is a serious opportunity that needs to be considered."

Jim Peach, economist and professor at New Mexico State University, 
said that it is difficult at this point to estimate what the effect would be.

"(It) depends on what we legalized," Peach said. "For example, New 
Mexico could legalize growing marijuana for export to Colorado or it 
could legalize small quantities for individuals, the Colorado model. 
The economic impacts of even these two scenarios would be very different."

New Mexico State Sen. Gerald Ortiz y Pino of Albuquerque hopes to 
introduce legislation for a constitutional amendment for marijuana 
legalization.

"I think the argument we'll make is that this is basically an 
opportunity for the public to decide if they want to do it," Ortiz y 
Pino told The Associated Press.

If the legislation is passed, the issue could go to voters in November.

Policymic.com recently reported that the marijuana industry is one of 
the fastest-growing business sectors in the U.S. It can help create 
jobs and expand the tax revenues.

The Colorado Marijuana Enforcement Division lists 148 retail 
marijuana stores in the state and 31 businesses listed as retail 
marijuana product manufacturers. And that's with less than a month of 
official legalization.

A study by Colorado State University shows that the adult 
recreational marijuana market in that state will be $605.7 million 
and that there will be slightly more than $130 million in state tax 
revenue in the 2014-15 fiscal year.

I'm not sure if any such study has been done to determine what the 
numbers would look like in New Mexico under similar circumstances, 
but it stands to reason that money spent on marijuana would increase 
if recreational use was legalized.

Would that help the economy?

I asked on the Sun-News Facebook site what people thought and the 
responses poured in, mostly in support of legalization.

Vivian Moore says that based on figures available from the New Mexico 
Department of Health, the medical cannabis program has already had a 
positive impact on the economy.

"It provided approximately $750,000 in sales tax revenues in 2013 
alone," Moore said. "As the patient numbers increase and production 
increases, then so will the sales tax revenues. And we haven't even 
touched on the income taxes being paid by the producers and personnel 
or the other payroll taxes."

Reese Luckie said the state would benefit from tax revenue and 
decreased prisoner population.

"The amount that is spent on marijuana prohibition is unjustified for 
the actual amount of damage it causes society as a whole," Luckie said.

Colleen Jonelunas-Chisham fears Colorado will create revenue at the 
expense of New Mexico.

"Please, let's keep the money in New Mexico," she said. "Don't let us 
lose millions to our neighbor."

"It would mean so much to our economy in New Mexico," Dominic Aragon 
said. "We could really use the money ... Make it legal or not, people 
are using it. By making it legal (you are) changing who gets the money for it."

Not everyone is in agreement. Cindy Holmes Clark thinks the 
legalization would just create "more morons with their heads in the clouds."

"I believe for a state with enough DUIs, legalizing another way to 
DUI seems like a bad idea," Natasha Fountain said.
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MAP posted-by: Jay Bergstrom