New Mexico’s governor is commemorating the first year anniversary of its adult-use marijuana industry. He cites the state’s more than $300 million in sales from April last year, as well as the thousands and jobs created by the cannabis industry.
Gov. Michelle Lujan Grisham (D), stated Monday that sales have been steady over the past year with March’s record-breaking haul of $32.3 million in recreational cannabis purchases.
New Mexico also sold $300.1 million worth of adult-use cannabis last year, for a total $488.3million.
In a press release, the governor stated that “in just one year, hundreds million dollars in economic activity was generated in communities throughout the state, while the number of businesses continues its increase and thousands of New Mexicans have been employed by this industry.” I’m excited to see where the future takes us as we develop a safe and innovative adult-use cannabis market.
Adult use cannabis sales in New Mexico have brought in $300 million within a year. This has boosted our economy, created revenue for our communities, and created thousands of new jobs. This is only the beginning of what New Mexico can look forward to from this new industry. pic.twitter.com/O6J8UROBiS
— Governor Michelle Lujan Grisham (@GovMLG) April 3, 2023
Since shops opened, New Mexico has generated $27 million in adult-use cannabis tax revenue. These dollars have supported the state general fund as well as localities. He also noted that the governor’s sales figures for 2017 were more than 10,000,000 transactions.
“From the signing of the legislation by the governor to the establishment of the Cannabis Control Division and the roll out this new industry in New Mexico, the industry has shown great promise,” Regulation and Licensing Department Superintendent Linda Trujillo stated. We look forward to even greater growth in the second year.
Lujan Grisham did not say whether she made any purchases in the first year of the market, but she did mention that she visited a cannabis retailer last year and didn’t rule out making purchases.
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Other states officials have been raising marijuana sales in recent months. Arizona is a neighboring state, and its year-end total for adult-use cannabis purchases was $1.4 billion.
After its launch in 2018, Massachusetts’ recreational market surpassed $4 billion in sales.
A top Wisconsin senator released a recent legislative analysis showing how much Wisconsin lost to Illinois last year. The analysis showed that Wisconsin residents without a regulated market were spending more than $121,000,000 on marijuana .
New Mexico lawmakers have passed a bill that will create a state body to study the possibility for launching a psilocybin treatment program for those with certain mental conditions.
Arkansas Lawmakers approve Bill to Protect Medical Marijuana Patient’s Rights To Carry Concealed Weapons
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