It’s a billion-dollar business — and then some.
In 2016, Colorado’s dispensaries bagged $1.3 billion in recreational and medical cannabis sales, based on Colorado Department of Revenue tax data released Thursday.
To put the state’s third year of regulated recreational marijuana sales in perspective, Year One totaled $699.2 million (combined with medical sales) and Year Two jumped up to $996.2 million. The trend should continue in Year Four, but beyond that? It’s a murkier proposition.
“Colorado has had a really good run, being the first mover,” said Miles Light, an economist with the Marijuana Policy Group, which provides economic and market consulting services to legal cannabis markets. “Now, as other states legalize, some of these external benefits that are occurring are going to be eroded.”