Legal Marijuana Helps To Transform One Denver Neighborhood

In Colorado an estimated 275 dispensaries are located in low income areas, but industry experts say their presence is improving the surrounding community.

A large number of marijuana growing facilities are located on what's called the Green Mile in the Colfax neighborhood of Denver, Colorado. Even in communities like Colfax, neighbors say the impact of the growing facilities and dispensaries has been largely positive. An estimated 275 dispensaries are located in low income areas of Colorado, but industry experts say their presence is improving the surrounding community. And residents don't seem to mind. A recent study by the University of Colorado in Denver revealed the dispensaries aren't perceived as undesirable. Colorado has experienced a 3% drop in teen use and a 95% drop in availability on school grounds. Since January, the state of Colorado has raked in about $11 million in sales and excise taxes on recreational marijuana. Short term the vote to legalize recreational use certainly appears to have been positive however the long term impact on the people of colorado remains to be seen. TheStreet's Juliette Fairley reports from Denver.