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Marijuana Business News

Colorado Marijuana Sales Continue To Increase

colorado price legal marijuanaLegal recreational marijuana sales started in Colorado at the beginning of this year. Medical marijuana sales have been allowed for much longer. Overall, marijuana sales continue to increase in Colorado, especially for recreational marijuana. Per The Pueblo Chieftain:

Marijuana sales in Colorado increased 10 percent in August, a bump attributed to more stores opening across the state.

The Colorado Department of Revenue announced Thursday that in August, customers bought more than $33 million in recreational cannabis — up from $29.7 million in July and $24.7 million in June. Consumers bought more than $32.2 million in medical marijuana in August. That’s up from $28.9 million in July and $28.6 million in June.

So far in 2014, Colorado has hauled in over $45 million dollars in fees, taxes, and licenses from marijuana sales. Is there a state in America that could not use an extra $45 million dollars? I ask this question over and over, ‘why is everyone not doing this?’ That doesn’t even include the money saved from marijuana enforcement in Colorado, nor does it take into account the money that the marijuana industry brings to other industries in the state, or the jobs that are created. Marijuana legalization/regulation works. Every state needs to get on board.

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  • That is really good news. I wonder if there is still a “substitution effect” in play. There was some discussion of it in the press in February. That is, that as Cannabis becomes more easily available, that some would substitute it for alcohol. There was evidence early on, with Guestmetrics CEO pointing to a 9% reduction in beer sales during the first month of recreational marijuana sales.

    If the substitution effect continues, then we likely have a trifecta: drug cartels are deprived of revenue, personal freedom is expanded, and public health is enhanced by the reduction of alcohol consumption (reduced DUI’s, domestic violence, etc).

    • wowFAD

      You’re spot-on. Anderson and Reese did an analysis of medical cannabis states to see how, exactly, they are different along the very same lines you’ve indicated. Their study showed a 9% drop in DUI’s and DUI fatalities and an average drop of 5% in beer sales in medical cannabis states. But their most impressive finding was that medical cannabis states see a reduction in suicide rates, as well — 9% drop for men ages 20-29 and an 11% drop for men ages 30-39.

      Anderson and Reese were just looking at *medical* cannabis states, at the time. I can’t wait to see the stats for Colorado five years after full legalization.

    • Sarijuana

      And the alcohol lobby will ramp up their anti marijuana efforts. Yuck.

  • David

    Not surprising really. Colorado shares it’s border with seven American States. Colorado benefits financially from it’s having a very favorable geographic location.

  • Cyndysub

    The true black market annual profits has never been known and that is why people are surprised at the legal sales and this gives a more accurate idea of the total market when extrapolated for the whole country.

  • mike1188

    Those figures don’t surprise me none. If any one ever payed attention to any major drug bust in the news it’s almost always estimated in the millions in street value. Small black market sales of 10 plants can net thousands. We should legalize marijuana nationally so all state can bennifits from this economic windfall that creates jobs through sales, taxes collected through sales. Improve air quality for growing plants. Plus stop putting people in prison for non violent marijuana drug use.

  • Pcdocjon

    The Pueblo Chieftan??
    Sounds like a Wyatt Earp era local newspaper. Makes me want to visit where it is printed.
    Just a matter of time before all the States figure to get rich rather than wallow in near banruptcy.