Colorado's Cannabis Sales for 2017 Reach $1.6 Billion | CashCropToday
0 Shares 85 Views

Colorado’s Cannabis Sales for 2017 Reach $1.6 Billion

February 13, 2018
85 Views

Colorado retailed $1.5 billion dollars’ worth of medical and recreational cannabis last year,  up 15% from 2016. Although recent over supply in the states market has caused to price per gram to drop significantly, demand is still stronger than ever.

Colorado was the first state in the U.S. to legalized cannabis for recreational consumption back in 2014. Taxes from the sale of cannabis has grown exponentially every year and in 2017 the state generated over $200 million dollars in taxes alone.

Total revenue from cannabis taxes, licenses, and fee revenue:

Calendar Year Total Revenue
2014 $67,594,323
2015 $130,411,173
2016 $193,604,810
2017 $247,368,473
2018 (Jan) $21,681,438

 

Cannabis legalization has had other positive effects on the state. According to new research by the American Journal of Public Health, the legalization of cannabis has caused opioid related deaths and overdoses to drop state wide by 6%. Actually, Denver’s violent crime rate dropped 2%, as well as, an 8% drop in property related crimes. It’s clear that Colorado’s experiment has now set a precedence for other states considering legalization.

Sources:
Colorado Department of Revenue
Marijuana Business Daily
The Washington Post

You may be interested

More Banks Willing to Work with Cannabis Businesses as Legality is Debated
Politics
84 views
Politics
84 views

More Banks Willing to Work with Cannabis Businesses as Legality is Debated

Editor - June 20, 2018

If you live in any of the nine U.S. states that support recreationally legal cannabis legislation like California, Alaska, Colorado, Maine, Massachusetts, Nevada, Oregon, Vermont, and Washington,…

Canada Officially Legalizes Recreational Cannabis
Politics
173 views
Politics
173 views

Canada Officially Legalizes Recreational Cannabis

Editor - June 20, 2018

The Canadian government has officially passed Bill C-45 yesterday, better known as The Cannabis Act. Now legislation has been set in place by the country's Senate and…

California Based Edible Company Signs LOI For the Chance to Go Public in Canada
Market Watch
186 views
Market Watch
186 views

California Based Edible Company Signs LOI For the Chance to Go Public in Canada

Editor - June 20, 2018

The Bhang Corporation, a privately-held cannabis edible and accessory company with operations out of California, has entered into a LOI (letter of intent) with Canadian public company…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: