Colorado marijuana companies have bought greater than $6 billion value of weed and associated merchandise since a voter-approved measure permitting adults over the age of 21 to devour leisure pot took impact within the state on Jan. 1, 2014.
The milestone determine was highlighted Tuesday in a information launch from the Colorado Division of Income’s Marijuana Enforcement Division, the company tasked with overseeing each leisure and medical hashish companies within the state.
Colorado crossed the $6 billion gross sales threshold because of a record-setting 2018. Gross sales surpassed $1.55 billion for the yr, beating the document of greater than $1.51 billion set in 2017.
The gross sales have Colorado on the cusp of one other milestone: $1 billion in marijuana tax, licensing and payment income. As of the top of January, the state had collected $927 million from these classes — masking each leisure and medical marijuana companies — since adult-use pot turned authorized in 2014. Colorado collected greater than $266.5 million in taxes, charges and licensing funds in 2018 alone.
Many within the state have questioned why marijuana tax cash can’t be tapped to pay putting Denver Public Colleges lecturers more cash, however the system arrange below Modification 64, the measure that greenlighted leisure pot use in Colorado, earmarks that income for college repairs and building and different packages, not instructor pay.
A baseline report masking the state’s first 5 years of authorized rec gross sales launched final yr discovered that youth use had not elevated over that point, however pinpointed stoned driving and a rise in organized crime actions as areas of concern.