skip to Main Content
Denver marijuana sales reach record high of $587 million, sales across state continue to rise

Denver dispensaries sold more than $587 million in marijuana in 2017 even as sales in shops in other parts of the state continue to grow.

Retail sales totaled $377 million in Denver, according to the city’s annual report on the marijuana industry released Thursday. The city’s revenue from all marijuana sales in 2017 grew to $44 million, a 20 percent increase from the previous year.

Denver uses the money to pay for regulation of the marijuana industry, enforcement of its laws and drug education. It also helps pays for maintenance, affordable housing and opioid intervention.

“This new report demonstrates Denver’s coordinated approach between multiple agencies to manage marijuana is working,” Denver Mayor Michael B. Hancock said in a news release. “We took on the daunting challenge of becoming the first major city in America to manage legalized recreational marijuana and we are having success.”

While crime related to the drug represents less than 1 percent of all crimes committed across Denver, dispensaries remain a target for burglaries. Dispensaries make up less than 1 percent of businesses in the city, but they account for about 10 percent of all reported business burglaries. [Read more at The Denver Post]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

Kentucky’s Medical Cannabis Program Undergoes Dramatic Transformation: Navigating HB 829 and the Emergency Licensing Regulations

By Hannah King and Arin Aragona Plans for Kentucky’s medical cannabis program took a significant turn last week with the passage of House Bill 829 and the implementation of emergency…

Cannabis in Court: When Federal Courts Will Hear Commercial Disputes Related to the Cannabis Business

By Steven Ascher and Anna M.Windemuth The unique status of the cannabis business —  legal in a majority of states, but still illegal under federal law — creates a thorny…

Patchwork Regulation of CBD Products Continues Despite Rise in Demand

By Courtney A. Hunter and Jessalyn H. Zeigler Demand for cannabidiol (CBD) products continues to climb, and the market has risen to the occasion. There is now a robust array…

How Private Equity Trumped Social Equity in State Cannabis Deal

Confidential documents obtained by THE CITY reveal how Chicago Atlantic Group became one of the biggest beneficiaries of the state’s legalization program. Last June, Gov. Kathy Hochul announced that a…

More Categories

Back To Top
×Close search
Search