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Colorado marijuana sales hit $2.2 billion in highest-selling year yet

Published: Feb 9, 2021, 12:12 pm • Updated: Feb 9, 2021, 12:12 pm By Tiney Ricciardi Despite a global pandemic that disrupted many facets of commerce, Colorado’s marijuana industry experienced its most lucrative year on record with $2.2 billion in sales in 2020. According to figures released Tuesday by the state Department of Revenue, dispensaries sold $186,343,208 in cannabis products in December, up 6.4% compared to the previous month. The state collected nearly $32.4 million in taxes and fees in December, pushing the annual tax total to $387.4 million in 2020. Read the rest of this story on DenverPost.com.

November marijuana sales push Colorado’s industry to $2 billion annually for the first time

Colorado marijuana sales in November pushed the industry’s annual revenue to $2 billion for the first time. In November, dispensaries sold $175.1 million worth of products, according to figures released by the Department of Revenue on Tuesday. Recreational sales accounted for about $140.5 million, while medical sales accounted for nearly $34.7 million, the agency reported. While the total is down about 12% compared to the month prior, it was enough to help Colorado hit yet another financial milestone in an already banner year for cannabis. From January through November 2020, consumers purchased slightly more than $2 billion, the Department of Revenue reported. The previous year, dispensaries reached $1.75 billion in annual sales, a record at the time. Read the rest of this story on DenverP...

Marijuana delivery, social equity reform and other Colorado cannabis trends to watch in 2021

Colorado’s marijuana industry experienced a banner year in 2020 — not in spite of the COVID-19 pandemic, but because of it. Dispensaries across the state were declared essential businesses and allowed to operate while bars, restaurants and gyms were forced to close. That designation helped sales exceed analysts’ expectations. According to Roy Bingham, co-founder and executive chairman of Boulder data firm BSDA, the national market grew more than 45% to $18 billion in 2020, outpacing forecasts by about $2 billion, an increase attributable to “the COVID effect.” Cannabis consumers shopped less frequently but purchased more, including many newcomers with increased at-home time on their hands, he said. Read the rest of this story on DenverPost.com.

2020 is already the highest-selling year for weed in Colorado

Colorado dispensaries sold more marijuana in the first 10 months of 2020 than they did during a record-setting sales year in 2019. October sales totaled more than $199.7 million in October, pushing the state’s annual revenue to more than $1.8 billion, according to the Department of Revenue. By comparison, sales totaled about $1.75 billion in 2019, making this the highest selling year since recreational weed hit the market in 2014. Sales were poised to crush the record following several lucrative summer months, despite the ongoing coronavirus pandemic. Colorado hit an all-time monthly high in July with $226 million in sales. That was also the first time monthly totals surpassed $200 million. Read the rest of this story on DenverPost.com.

Colorado weed sales set to crush annual record, with another $200 million month in September

Weed enthusiasts purchased more than $206.4 million worth of Colorado-made marijuana products in September, as sales from a record-breaking year moderately cooled off. Recreational dispensaries sold $166,547,119 during the month, while medical dispensaries sold $39,941,149 for a combined $206,488,268 in revenue, according to data from the Colorado Department of Revenue. Sales decreased 5.5% compared to August, but are up 33% compared to September 2019 as marijuana experiences a banner year for sales despite the coronavirus pandemic. Read the rest of this story on DenverPost.com.

Redwood City could soon allow up to six storefront cannabis dispensaries

REDWOOD CITY — Cannabis connoisseurs who have long fretted over the veritable dispensary desert on the Peninsula could soon find an oasis in Redwood City. Redwood City residents are being asked to weigh in on allowing up to six cannabis retailers to open up in certain parts of the city during a Plan Commission meeting on Tuesday, two weeks after the city council expressed support for expanding access to the popular drug during a council study session. Ever since cannabis was legalized for recreational use back in 2016, no Peninsula city has gone the way of San Jose, San Francisco and Oakland in allowing storefronts to open up. There are several delivery services across the Peninsula, but Redwood City is the first to seriously consider cannabis clubs to open. Read the rest of this story on ...

June was Colorado’s biggest marijuana sales month ever. July was likely bigger.

June marks the first month in Colorado history that recreational marijuana shops sold more than $150 million worth of products as cannabis consumption during the COVID-19 pandemic continues to set industry records. Recreational marijuana consumers spent $158,102,628 at Colorado shops in June, according to data from the Department of Revenue’s Marijuana Enforcement Division. It’s a 6% increase of the previous single-month recreational sales record of $149,186,615 that was set in May, state data shows. Last June, rec shops sold roughly $122.4 million in products. Before this year, monthly recreational sales had only eclipsed $140 million one time, in August 2019, state data shows. That month, dispensaries combined to sell $173,219,859 worth of products. Read the rest of this story on DenverP...

Three houses on Tennyson Street were turned into immersive, colorful and temporary art

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Owner of High Times magazine scores 13 California marijuana dispensaries

Published: Apr 28, 2020, 9:45 am • Updated: Apr 28, 2020, 9:47 am By Associated Press By ALEX VEIGA | The Associated Press LOS ANGELES  — The owner of High Times is going to start selling marijuana after championing its use in the pages of its magazine for nearly half a century. Hightimes Holding Corp. said Tuesday is acquiring 13 dispensaries from Harvest Health and Recreation, one of the largest multi-state producers and sellers of cannabis in the U.S. Read the rest of this story on MercuryNews.com.

Denver risking tax dollars by “ineffectively” auditing marijuana businesses, city auditor alleges

Denver’s process for auditing marijuana businesses is inadequate and has potentially cost the city countless tax dollars allocated for public service programs, the city auditor alleged Thursday. In a scathing new report, Denver auditor and certified public accountant Timothy M. O’Brien evaluated the city’s methods, strategies and standards for auditing marijuana dispensaries, cultivations and manufacturing facilities, deeming them “ineffective” and “inefficient.” Officials also have failed to address several unlicensed marijuana delivery services active in the city, the report said. Read the rest of this story on DenverPost.com.

Colorado’s marijuana businesses can remain open during pandemic, but they say they’re still struggling

As the coronavirus fueled changes in regulation for Colorado’s cannabis industry, leaders at LivWell Enlightened Health knew they needed to make dramatic moves to keep the business and its workers thriving. And fast. On March 30, 18 company executives and department heads agreed to suspend their compensation for three months to avoid making cuts elsewhere, including personnel. The company employs 690 people between its cultivation sites, business administration and 18 dispensaries in Colorado and Oregon. Most are what Executive Director Dean Heizer calls “heartbeat” employees, namely, those on the front lines serving customers in marijuana dispensaries and working in its grow facilities sites to ensure there’s product to sell. Read the rest of this story on DenverPost.com.

Colorado dispensaries say coronavirus pandemic is making case for marijuana delivery

As the coronavirus pandemic disrupts daily life and commerce in Colorado, many in the state’s marijuana industry believe it makes the case for allowing dispensaries to begin delivering to customers’ homes now. Legislators legalized cannabis delivery with the passage of House Bill 1234 in 2019. The law permits medical marijuana deliveries to start in 2020 followed by recreational cannabis deliveries in 2021, but left it to municipalities to individually decide if they will allow the services. So far just one dispensary in Colorado, The Dandelion in Boulder, has obtained a license to deliver products to patients. Shannon Gray, communications specialist for the Marijuana Enforcement Division, declined to comment on whether the timeline for recreational delivery is being reconsidered in light ...

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