1st Year of Cannabis Sales in Massachusetts Reached Almost $400 Million

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Right after a year of legal cannabis, Massachusetts is taking stock. Numbers released by the state’s Division of Income and its Cannabis Manage Commission summed up the initially phase of the regulated cannabis market, announcing that the state’s 33 dispensaries had raked in a total of practically $400 million in sales, and employed six,700 people.

Massachusetts has largely dodged challenges with illegal dispensaries such as these in California, even as a substantial share of in-state cannabis sales take location below illegal situations. It also faced its fair share of other challenges, amongst them making certain social equity for men and women of colour in the cannabis market. The state has previously stated that a paltry three.five % of the enterprise entities that had filed with the state are owned by men and women of colour.

Sales figures began out of the gate robust. The sole two dispensaries that have been initially licensed in Northampton and Leicester rang up $two million in buyer purchases in the initially 5 days they have been open, and saw lines so extended to get into the retail places that the neighbors from time to time complained about the influx of car or truck targeted traffic.

The state is now residence to 33 dispensaries, which have sold $393.7 million worth of cannabis items, creating $19 million in sales tax, $32.eight million in excise tax, and $9.1 in regional selection tax.

No Smooth Sailing in the Commonwealth

The cannabis market was roiled by allegations that Fall River Mayor Jasiel Correia II had been accepting bribes from marijuana entrepreneurs in exchange for permitting them to open up their corporations in his city. Legally admissible sorts of bribery have also been a concern, with lots of communities asking marijuana organizations for payments through “host neighborhood agreements.”

The Division of Income and the Cannabis Manage Commission also identified quite a few other ongoing challenges that they hope to address in year two of cannabis sales.

One particular was the will need to open extra, geographically effectively-distributed cannabis shops. “I have no expectation there will be a retail retailer on every single corner, but we have a lot extra geographic expansion to do,” stated the chairperson of the Cannabis Manage Commission Steven Hoffman, explaining that the roll-out prioritized extended-term top quality more than speed. “I was substantially extra concerned about what this market would appear like in 2021 or 2022 than in 2018,” he stated.

Hoffman also spoke about the necessity of acquiring extra physicians and nurses to take on healthcare cannabis individuals. “I feel we’re missing an chance to substantially strengthen the lives of individuals about the state,” the chairperson stated. “We will need to figure out how to engage the healthcare neighborhood in this.”

“I really feel proud of what we’ve achieved and I’m pleased with how the rollout has gone to date but we are in the early stages and have a ton extra perform to do,” stated Hoffman.



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