Albuquerque, N.M. KRQE – The New Mexico cannabis industry has sold more than $1 Billion in medical and recreational sales. The cannabis industry returned over $75 million to the state in excise tax.
In a press statement, New Mexico Governor Michelle Lujan Grisham stated that this was a significant milestone for the cannabis industry in New Mexico. “Nearly 2 years after sales began, New Mexico has become a hub for safe and legal cannabis and a thriving business community.”
Recreational cannabis sales have accounted for more than half of all sales. Retailers sold recreational products worth $678 million. The medical sales are $332 million.
data provided by the state’s licensing and regulation department show that Albuquerque is the city with the highest sales. More than $202 millions worth of cannabis has been sold there so far. Sunland Park saw more than $57 in recreational sales. Las Cruces and Hobbs each had more than $40 in recreational sales.
