marijuana possession Total Benefit Costs Additional cost of Marijuana abuse treatment requests Additional costs from Marijuana related accidents Total Costs Net Benefit Grenada
1,674,174
1,097,982
4,280,225
577,823
3,194,172
620,362
108,545
39,897
119,773
45,247
131,002
50,826
174,422 1,962,245 1,130,679 214,318 2,082,018 1,175,926 883,663 2,198,206 -598,103
2,071,258 2,202,261 991,912
1,582,951 1,633,777 -1,013,415
1,744,218 1,852,762 -178,588
As seen in Table 2, estimates of the potential benefits of changes to the marijuana legal framework using three different legalization/decriminalization approaches are presented. In this Grenada case, data were available to estimate seven potential benefits, these include; averted cost of lost wages from marijuana possession arrests, cost averted by the police from marijuana possession arrests and costs averted by the prison from marijuana Table 2: Estimated Costs and Benefits, Grenada Apart from the reduced costs, some potential additional revenues were estimated, of these were, additional revenues from marijuana-related license fees, additional excise revenues from marijuana sale and additional revenues from marijuana possession charges, in lieu of arrests. Total benefits ranged between EC$ 620,362 for year 2 of model 3 and EC$4,280,225 for year 1 of model 2. Data availability allowed for only two costs impacts to be examined; the additional cost of Marijuana abuse treatment requests and an estimate of the additional costs of Marijuana related accidents. Estimates of the costs of marijuana-related abuse treatment costs ranged between EC$ 39,897 for year 2 of model 1 and EC$131,002 for year 1 of model 3. The additional costs due to marijuana-related accidents were substantially higher than the additional abuse costs and were estimated to be between EC$ 1,130,679 in year 2 of model 2 and EC$ 2,071,258. Moreover, model 1 was estimated to derive the lowest total benefit and model 2 the highest. With total benefits of EC$2.77 million and EC$4.86 million, respectively. Model 3 was projected to result in the highest costs of EC$3.84 million, followed by model 2 with EC$ 3.26 million. See Figure 8
Figure 8: Estimated Costs and Benefits, Grenada.
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