Report: Colorado Cannabis Sales on the Decline

April 21, 2023 · Ganjapreneur

Combined adult use and medical cannabis sales in Colorado were $124 million in February, a decline of 14.2% from the same month in 2022, according to state Department of Revenue data outlined by KDVR. In all, adult-use cannabis sales in Colorado have declined 12.7% year-over-year, while medical cannabis sales have fallen 23.7% year-over-year, according to state data.

Cannabis sales tax collections in the state were down 19% last month compared to March 2023, according to the revenue department. The state also saw the loss of 10,481 cannabis jobs last year, according to the Vangst 2023 Jobs Report outlined by KDVR.

Tiffany Goldman, board chair of the Marijuana Industry Group, told KDVR that the organization is “already seeing business owners close their doors and leave Colorado, taking critical jobs and tax revenue with them.”

Colorado was among the first states to legalize cannabis for non-medical purposes, joining Washington state in 2012 via ballot initiatives.  (Full Story)

In category:Business
Tags:
Next Post

TerrAscend Steps Closer To The TSX

TerrAscend Corp. (CSE: TER) (OTC: TRSSF) decided to celebrate 420 by filing its preliminary proxy statement with the U.S. Securities and Exchange Commission in its next step to listing on the Toronto Stock Exchange (the TSX). While the company had hoped to…
Read
Previous Post

Employee numbers up at some cannabis MSOs despite challenging conditions

News of widespread layoffs at cannabis companies across the United States has dominated headlines, but an analysis of employee counts at America’s largest multistate operators shows several actually grew their payrolls last year. The fact that employee payrolls were up for some…
Read
Random Post

Even England’s police want to decriminalise hard drugs. Why won’t our posturing politicians listen

The best social reform starts on the frontline. The news that the National Police Chiefs’ Council has decided to effectively decriminalise cannabis and cocaine in England is, for drugs reformers, sensational. It intends to extend nationwide the warning and treatment schemes that…
Read
Random Post

A Democratic Presidential Candidate That Will Actually Legalize Weed? - RFK Jr May Be the Best Hope for the Cannabis Industry

Robert F. Kennedy Jr., a contender for the 2024 Democratic presidential nomination, intends to legalize marijuana and psychedelics should he win the presidency. Additionally, he proposes implementing taxes on these substances, with the generated revenue being utilized to establish "healing centers." These centers would…
Read
Random Post

North Dakota Governor Signs Bill Letting People In Hospice Care Self-Certify As Medical Marijuana Patients

North Dakota’s governor has signed a bill allowing patients admitted to hospice care to self-certify as medical marijuana patients. The legislation, which cleared the House in an 86-6 vote and the Senate unanimously in a 45-0 vote, was signed into…
Read
Random Post

Arts District Cannabis Reopens in Los Angeles

Located in the heart of Los Angeles’ Arts District, the impossibly popular Coast to Coast Cannabis dispensary will open its doors at 542 Alameda Street, on July 1, as the newly relaunched Arts District Cannabis.  The rebranded dispensary will officially…
Read