Colorado Hits Marijuana Milestone
Colorado recreational marijuana sales topped the 100 million mark in July.
It's another first. According to the data going back a year ago, recreational sales have continued to increase. There was a dip in November and again in December, but since the first of the year, sales have risen steadily to its current record breaking level in July. The overall total of medical and recreational combined broke a record as well with a total of nearly 137 million. That surpasses the previous record set in March of over 131 million.
The simple fact is, sales continue to grow. That trend has continued from day one of the 4-year-old industry. How long depends on market saturation and of course it will diminish as other states legalize recreational sales.
Back in February Palisade city officials approved 3 retail outlets. That number, by the way, was based on the number of residents (1 store per 1,000 residents). What does the future hold for Grand Junction? The record setting revenue will continue but only for a limited time. Will Grand Junction choose to cash in or allow the dollars to go elsewhere?
Credit: The Cannabist