The governor of New Mexico is marking the one-year anniversary of the state’s adult-use marijuana market, touting its greater than $300 million in gross sales since final April in addition to the hundreds of jobs the hashish trade has created.
Gov. Michelle Lujan Grisham (D) mentioned on Monday that gross sales have been regular all through the previous yr, with March’s haul setting the month-to-month file at $32.3 million in leisure marijuana purchases.
Along with the $300.1 million year-end gross sales complete for the adult-use market, New Mexico sold about $187.4 million in medical hashish prior to now yr for a mixed $488.3 million.
“In only one yr, tons of of hundreds of thousands of {dollars} in financial exercise has been generated in communities throughout the state, the variety of companies continues to extend, and hundreds of New Mexicans are employed by this new trade,” the governor mentioned in a press launch. “I’m excited to see what the longer term holds as we proceed to develop an modern and secure adult-use hashish trade.”
In only one yr, grownup use hashish gross sales have generated $300 million in our state, boosting our economic system, producing income for native communities, and creating hundreds of jobs. That is just the start of what New Mexico can count on from our latest trade! pic.twitter.com/O6J8UROBiS
— Governor Michelle Lujan Grisham (@GovMLG) April 3, 2023
New Mexico has generated greater than $27 million in adult-use marijuana tax income since retailers opened up, with these {dollars} supporting the state basic fund and localities. The governor additionally identified that gross sales got here from greater than 10 million transactions over the yr.
“From the governor’s signing of the laws, to standing up the Hashish Management Division and rolling out this new trade, the New Mexico hashish trade has proven nice promise,” Regulation and Licensing Division Superintendent Linda Trujillo said. “We’re wanting ahead to much more development in yr two.”
Lujan Grisham didn’t say whether or not she participated out there in its first yr by making any purchases, however she didn’t rule it out final yr throughout a go to to a hashish retailer on opening day.
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Officers in different states have additionally been speaking up marijuana gross sales in current months, together with neighboring Arizona, the place the year-end complete for 2022 adult-use hashish purchases reached $1.4 billion.
In Massachusetts, the state’s leisure market formally exceeded $4 billion in gross sales in January after launching in 2018.
Conversely, a high Wisconsin senator just lately launched a legislative evaluation that confirmed simply how a lot cash her state misplaced out to Illinois final yr, with Wisconsin residents who lack a regulated market going throughout the border and spending greater than $121 million on marijuana.
Again in New Mexico, lawmakers just lately superior a invoice to create a state physique that will research the opportunity of launching a psilocybin remedy program for sufferers with sure psychological well being circumstances who may gain advantage from utilizing the psychedelic.
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