1st Year of Cannabis Sales in Massachusetts Reached Practically $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 1st 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 folks.

Massachusetts has largely dodged problems with illegal dispensaries such as these in California, even as a massive share of in-state cannabis sales take spot beneath illegal situations. It also faced its fair share of other challenges, amongst them guaranteeing social equity for people today 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 people today of colour.

Sales figures began out of the gate sturdy. The sole two dispensaries that had been initially licensed in Northampton and Leicester rang up $two million in buyer purchases in the 1st 5 days they had been open, and saw lines so extended to get into the retail places that the neighbors at times complained about the influx of automobile website traffic.

The state is now dwelling to 33 dispensaries, which have sold $393.7 million worth of cannabis solutions, creating $19 million in sales tax, $32.eight million in excise tax, and $9.1 in neighborhood 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 enabling them to open up their organizations in his city. Legally admissible forms of bribery have also been a concern, with numerous communities asking marijuana businesses for payments by way of “host neighborhood agreements.”

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

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

Hoffman also spoke about the necessity of having extra physicians and nurses to take on healthcare cannabis individuals. “I feel we’re missing an chance to substantially increase the lives of individuals about the state,” the chairperson mentioned. “We want 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,” mentioned Hoffman.



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