Could Marijuana Business Mean Billions For Massachusetts?
BOSTON (CBS) -- If voters approve the marijuana ballot question in November, Massachusetts would become the first state east of Colorado to legalize pot--and that could mean ca-ching for the Commonwealth.
Chris Walsh, managing editor of Marijuana Business Daily, tells WBZ NewsRadio 1030's Carl Stevens that the payday could be huge.
"There's no question that it would be in the high hundreds of millions, and into the billions, in terms of revenue if Massachusetts legalizes recreational," said Walsh.
More: Marijuana Legalization Proposal Draws Support, Opposition In Massachusetts
Walsh says being the only state on the east coast to legalize recreational pot would make the Bay State a destination for weed tourists this side of the Mississippi.
"It could be the only state basically east of Colorado to legalize recreational, so it would be a huge hub for tourism and people for nearby states," said Walsh.
The Boston Globe Monday cited a report from ArcView Market Research that said legalized cannabis sales could be a $1.1 billion industry in Massachusetts by 2020.
More: Mass. Hospital Group Against Legalizing Marijuana
A Mass. Senate panel that traveled to Colorado on a marijuana fact-finding mission in January recently warned that Massachusetts may not be prepared for pot legalization.
WBZ NewsRadio 1030's Carl Stevens reports
