If California voters approve recreational marijuana legalization this November, it could prove to be very lucrative for the state and its municipalities.
Truth Enterprises commissioned a study focused solely on the legal marijuana industry, according to Fortune. The study showed that if Sacramento were to become a main hub for the California recreational marijuana market, it could bring in $4.2 billion in revenue and create upwards of 20,000 new jobs. If limitations are placed on the number of retail establishments that can be established, the industry is still expected to bring in at least $322 million in revenue and create 1,600 jobs.
In a statement to Reuters, Joshua Woods said, “The entire Sacramento business community is looking at this with different eyes today. With this many jobs, you can’t ignore it.”
The legal recreational market could make Sacramento as important to California as Detroit is to Michigan, in a comparison offered by Daniel Conway of Truth Enterprises.
For several months polls have shown that recreational marijuana legalization in California is likely to pass by a substantial majority.