- American Cannabis Report Editorial Staff
Colorado Bags $100 Million Last Month; New Norm Says Newsweek
Colorado is the Cannabis King (for now), reporting over $127.7 Million in sales in May, as reported in Newsweek and other outlets.
"Bethany Gomez, director of research for marijuana market research firm Brightfield Group, told the site that hitting the $100 million mark has become “the new norm” in Colorado, with some $1.4 billion in sales between May 2016 and May 2017. During that time, Colorado racked up over $233 million in taxes and license fees.
"The industry as a whole reaped over $6.7 billion in sales last year, according to a December report by marijuana analytical firm Arcview Market Research, with Colorado sales topping $1 billion," explains the Newsweek piece.
The Daily Kos, quoting the Denver Post, reports that the tax revenues will provide Colorado's BEST (Building Excellent Schools Today) program with $40 Million this year to fix and build new schools.
If that Newsweek prediction (new normal) is correct, that's going to be a dependable $40M each year.
Image source: Map Postcard, via Flickr and Pinterest collectors