Study shows economic boost for Oklahoma if State Question 820 is passed

From the gas station to the grocery store, Oklahoman’s are struggling with increased prices across the state. However, a new study shows that if state question 820 is passed they may be getting a break.

“We are talking about 821 million dollars to the state of Oklahoma over the next five years,” said SQ 820 campaign director Michelle Tilley.

Tilley said the campaign had the study done because they saw the benefits other states with legalized recreational marijuana had and they wanted concrete evidence to show their findings. The research was done by leading cannabis and corporate law firm Vicente Sederberg LLP.

“Over the first five years of operations from 2024 to 2028, the model projects that Oklahoma will raise more than 434.6 million in new revenue from the 15% excise tax from state question 820,” said Vicente Sederberg’s director of economics and research Andrew Livingston.

In addition to the boost in Oklahoma’s revenue they predict thousands of jobs will be created from sales, packaging, shipping, and more.

“We hear reports from people all the time in the industry. These are good jobs. They are paid high wages, some of them even offer full benefits and retirement plans,” said Tilley.

The money will go directly to the state but it will still help communities across the state per the allocations in the report. The full breakdown of this can be found on page 13. According to the report 30% will go towards grants to support public schools and develop programs to support students.

“The most important things and priorities that we all see in Oklahoma that need more funding are schools, our education system, healthcare,” said Tilley.

In opposition to this campaign is Protect our Kids: No SQ 820. In response to this study the group said they don’t think you can put a price on the health of Oklahoman’s and our children.

The vote for SQ 820 will take place on March 7, 2023.

The last day to register to vote for this election is February 10, 2023.