A former licensed pilot, Barcelona, Spain resident Ionio Aguirre De Carcer serves as the director of Latin America Regional Affairs for New Frontier Data. In this capacity, Ionio Aguirre De Carcer leads the company to analyze the potential socioeconomic impact of legalizing and decriminalizing cannabis.
US states such as Washington and Colorado provide examples of the economic benefits of legalizing cannabis. Washington, for example, collected more than $559 million in legal marijuana revenue in 2021, up more than $85 million from 2020. Colorado’s marijuana revenues increased 10 percent from 2020 to 2021, providing the state with $423 million in tax revenue. According to New Frontier, legalizing cannabis at the federal level could bring in more than $105 billion in tax revenue by 2025.
In addition to generating revenue, legalized cannabis creates jobs. In a Nevada-based study, an RCG Economics and Marijuana Policy Group concludes that legalizing marijuana could add roughly 41,000 new jobs to the state. In California, that number could exceed 80,000 direct and indirect jobs and a $3.5 billion increase in total labor income.
