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Colorado marijuana sales exceeded $2 billion in 2020 – Colorado Springs, Colorado

Colorado Springs, Colorado 2021-01-13 21:46:47 –

Marijuana sales in the state of Colorado in November boosted the industry’s annual revenue to more than $ 2 billion for the first time since the 2012 voting law legalized the use of cannabis for recreational purposes.

Marijuana’s entertainment and healthcare revenues accounted for approximately $ 175 million in revenue in November, according to data released by the State Department on Tuesday.

Monthly income fell by about 12% compared to October, but that number was sufficient for the state to exceed the annual income threshold of $ 2 billion, the Denver Post reported.

The state has collected approximately $ 32 million in taxes and fees from the sale of marijuana in November.

The increase in marijuana revenues in 2020 is in line with the political momentum that South Dakota, Mississippi, New Jersey, Arizona, and Montana voters have somehow legalized their use in the November elections.

Roy Bingham, co-founder and chairman of data company BDSA, previously told Post that the national marijuana market in 2020 grew by more than 45% to reach $ 18 billion, about $ 2 billion above expectations.

Colorado marijuana sales exceeded $2 billion in 2020 Source link Colorado marijuana sales exceeded $2 billion in 2020

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