CHICAGO (CBS) — While many businesses have been struggling to survive during the pandemic, Illinois pot dispensaries have continued to thrive, setting another sales record in July.
The $61 million in recreational marijuana sales last month represented a 28% increase over June, when Illinois had $47.6 million in sales, according to the Illinois Department of Professional and Financial Regulation. Those figures do not include medical marijuana sales.
Sales of recreational pot have increased each month since February, which saw a slight drop in sales from January, the first month of legal weed in Illinois.
Marijuana dispensaries have been deemed essential businesses during the pandemic, allowing them to remain open during the early months of the outbreak, when most businesses were forced to close.
So far this year, recreational pot dispensaries in Illinois have sold nearly 6.7 million marijuana products worth a total of more than $300 million.
However, due to the pandemic, the state has delayed plans to issue 75 new dispensary licenses that were supposed to go out May 1, with preference given to so-called “social equity” applicants, who are eligible for lower fees and for business loans to help get their businesses off the ground. [Read More @ CBS News]
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
THE initial priorities of the UK Cannabis Industry Council have been identified following a special general meeting attended by around 50 members. The meeting in Arlington St, next to the Ritz Hotel, London, saw members consider part-funding a university-based cost benefit analysis into the efficacy of the medical cannabis. A second proposed work stream aims…
By Griffen Thorne, Attorney at Harris Bricken Cannabis licensing has a pretty standard trajectory by this point in time. States tend to start out with medical programs and later adopt recreational programs. What usually happens is that the recreational cannabis market swallows up the medical market. The majority of medical operators will seek out and…
The New York State Department of Labor has released new guidance regarding legalized recreational marijuana use and the workplace. According to that new guidance, employers must cite “articulable symptoms of impairment” in almost any effort to take action against an employee due to marijuana use. That means an employer must provide “objectively observable” evidence that…
Vermont’s Cannabis Control Board estimates that spending on recreational marijuana in Vermont could reach $225 million annually by 2025, which would translate to nearly $46 million in new state taxes. The figures are just some of the news from a highly anticipated report the board released last Friday. The 64-page document lays the groundwork for…