Illinois is redefining the importance of a cannabis industry for states’ revenue
Illinois announced on Tuesday that it has collected more than $100 million in revenue from cannabis sales since the recreational legalization program launched this year. The state has seen record-breaking cannabis during the coronavirus pandemic leading to increased tax revenue.
“Thanks to those who have carefully overseen this brand-new industry’s successful launch in Illinois, revenue is flowing to local governments, to drug treatment programs and law enforcement, and being reinvested in our communities hit hardest by the failed policies of the past,” IDOR Director David Harris said in a press release.
Close to 25% of the money collected has been designated for restorative justice grants. Programs addressing substance misuse and mental health treatment have also been paid for with the revenue from cannabis sales.
Illinois residents and out-of-state visitors spent more than $6O million on adult-use cannabis products, according to official data. State official release information that at least $16 million of this cannabis-related revenue “will be directed to county and local governments with more on the way.”
“Sales data over the course of the year seems to support the notion that the state’s cannabis market is recession-proof and pandemic-proof,” a top regulator said in August.
Illinois Gov. J.B. Pritzker (D) pardoned more than 11,000 people with prior cannabis convictions. before the new state cannabis revenue system went into effect. Pritzker told the press last week that he has plans to grant more acts of marijuana clemency in the future.