The one-year anniversary of recreational cannabis has people feeling good. Officials say it’s boosting the economy, and local dispensaries say expectations have been shattered. Both agree the ceiling for this industry in New Mexico has been raised.
“New Mexico has been getting high for a year now, and it’s been bringing in some great revenue. More than we anticipated,” said Scott Prisco.
Revenue of $400 million, to be more specific.
The Regulation and Licensing Department says it’s an investment.
“That is well within the range and we think we will probably exceed what we said would happen,” said Linda Trujillo.
From small towns to bigger populated areas, Trujillo with the department says sales show volume across New Mexico.
Local dispensary managers like Rodrigo Ramirez say recreational marijuana has been good for business and the economy.
“It is a big monumental thing for New Mexico,” Ramirez said.
Since opening its doors at Canvas, he says New Mexico has found a way to stand out when it comes to the cannabis industry.
“The state just went beyond everyone’s expectations,” Ramirez said. “Kind of puts New Mexico on the map again.”
Prisco, who owns a delivery service for cannabis in Albuquerque, is curious to see where the industry goes from here.
“I’m very interested in what that next step is,” Prisco said. “We’ll see what happens but it should be an interesting 2024 and 2023.”
Moving forward, Regulation and Licensing wants to keep the pace.
Trujillo says the department wants to focus more on compliance when it comes to concerns about this industry.
Promoting the businesses is also something Trujillo wants to touch on because she says, right now, it’s here to stay.
“This really is a New Mexico-based business that is growing, and the industry reflects that,” Trujillo said. (Full Story)