legal marijuana Archives

WA: Legal Marijuana Industry Accounts for Over 6,200 Full-Time Jobs

September 3, 2017

The legal marijuana industry in Washington employs thousands in full-time positions, according to a new report.

The report, released by the Washington State Institute for Public Policy (WSIPP), found that at the end of 2016 the legal marijuana industry accounted for the equivalent of 6,227 full-time jobs. With the industry continuing to grow at a rapid pace, that number is likely considerably higher now, as we head deep into the second half of 2017.

The report states that wages for the marijuana industry have totaled $286 million from 2014, to the end of 2016. The average hourly pay rate for the industry has been $16.45 (over $5 an hour more than the state’s minimum wage), with the median range being $13.44 an hour.

Washington State Garnering Nearly $1 Million in Daily Taxes from Legal Marijuana Sales

March 26, 2017March 26, 2017

Washington State’s legal marijuana market continues to grow, with daily marijuana sales surpassing $4.8 million.

The daily average of $4.82 million in legal marijuana sales – a new high – garners the state roughly $910,000 in daily taxes. This is according to data collected by the state’s Liquor and Cannabis Board. According to the board, 490 retail licenses and 974 producer/processor licenses have been distributed throughout the state.

So far in fiscal year (FY) 2017, which began on July 1st, there has been $1,181,675,336 in legal marijuana sold, resulting in $220,980,590 in taxes. This has already topped the total sales ($972,729,675) and taxes ($185,786,493) for FY 2016.

WA: Over $1.1 Billion In Legal Marijuana Sold So Far In FY 2017, Garnering Over $210 Million in Taxes

March 21, 2017

Legal marijuana sales continue to surge in Washington State.

In fiscal year (FY) 2017, which began on July 1st, there has been $1,142,722,905 in legal marijuana sold. This has already surpassed the total for FY 2016 ($972,729,675), even though there is over three months left in FY 2017.

The over $1.1 billion in legal marijuana sold has resulted in $213,990,878 in taxes for the state. On a daily basis there is nearly $4.8 million worth of marijuana and marijuana products sold each day, resulting in roughly $1 million in daily tax revenue. This is according to data released by the state’s Liquor and Cannabis Board.

Daily Marijuana Sales Reach $4.6 Million in Washington State, New High

March 6, 2017

There is now over $4.6 million in legal marijuana sold each day in Washington State.

The daily average of $4,611,558 worth of marijuana sold results in over $800,000 in daily tax revenue for the state. This comes out to a monthly average of $138 million in marijuana sold, and over $25 million in taxes garnered.

In 2016 there was a over $1.4 billion in legal cannabis sold in Washington State, which resulted in over $250 million. This total was slightly higher than the $1.3 billion worth of legal cannabis sold in Colorado in 2016, which garnered the state almost $200 million in taxes.

Over $1.4 Billion in Legal Marijuana Sold in Washington State in 2016

January 3, 2017

There was over $1.4 billion in legal marijuana sold in Washington State in 2016; this is according to data released by the Liquor and Cannabis Board.

In total there was approximately $1.41 billion in legal marijuana sold between January 1st and December 31st of last year. This resulted in over $260 million in taxes for the state. These numbers are based off of the sale of roughly 155,000 pounds of cannabis.

According to the Liquor and Cannabis Board, 467 cannabis retail outlets have been licensed; 917 licenses have been issues for cannabis producers and processors.

For fiscal year 2017, which began on July 1st, 2016, there has been $697,758,162 in legal cannabis sold, resulting in $130,066,915 in taxes for the state. This is based on the sale of 88,174 pounds of cannabis, and over 6 million units of cannabis extracts; this includes edibles, topicals and oils.

Uruguay Cannabis Sales Begin in Just a Few Weeks, to be Sold in Pharmacies

August 23, 2016August 22, 2016

In just a few weeks dozens of pharmacies across Uruguay will be legally distributing cannabis to those 18 and older as part of new policy passed by lawmakers in 2013.

According to National Drugs Board Chairman Juan Andres Roballo, there are roughly 50 pharmacies registered to distribute the plant throughout the country, and around 20 cannabis clubs where cannabis can be consumed onsite. Roballo tells us that the initial batch of cannabis has already been harvested and is ready to sale, with the public able to purchase from pharmacies by the end of September.

Colorado: $112 Million of Legal Cannabis Sold in June

August 18, 2016

There was $112 million of legal cannabis sold in Colorado in the month of June, an over 30% increase from June of 2015.

Of the $112 million of cannabis sold, $74 million was from recreational cannabis outlets, and $38 million was from medical cannabis dispensaries. The recreational sales mark a 47% increase from last year, while medical sales grew by 8%.

Sales of concentrates are on the rise more than anything else, with a 73% increase in June of this year compared to June, 2015. Now concentrates make up 24% of total sales (compared to 18% last year).

WA: Over 5.3 Million Pounds of Legal Cannabis Sold in July

December 1, 2016August 1, 2016

In July alone there was 5.3 million pounds of legal cannabis sold in Washington State, according to data released by the Liquor and Cannabis Board. These sales resulted in roughly $20 million in taxes.

In addition to the 5.3 million pounds of “usable” cannabis sold, there was 485,000 units of cannabis extracts sold, 285,000 units of edibles sold, 70,000 units of liquid edibles sold, and 14,000 units of topical cannabis (lotions and ointments) sold.

Recently we reported that there is $3.8 million of cannabis sold legally in the state each day, garnering over 700,000 in daily taxes.

Report: Cannabis Shops Make More Money Per Square Foot than Whole Foods

June 29, 2016

In states where cannabis is legal, the market has unsurprisingly thrived, with huge amounts of revenue – and taxes – rolling in. Now, a new report shows that on average, legal cannabis businesses in the U.S. produce an annual revenue per square foot that’s higher than Whole Foods, one of the nations most profitable grocers.

According to the 2016 Marijuana Business Factbook, the average annual revenue per square foot of legal cannabis retail outlets (medical and recreational) is $974. By comparison, Whole Foods’ yearly revenue is $930 per square foot, roughly 5% lower.

WA: Enough Cannabis Sold in Past 7 Months to Fill 45 Million Joints, Enough Oil for 40 Million Dabs

January 21, 2016

In Washington State, cannabis is big business. Despite the state having a system that puts arbitrarily low caps on the number of cannabis businesses allowed, we recently reported that there is $2.3 million in legal recreational cannabis sold each day, according to the Liquor and Cannabis Control Board. Further data from the Board, however, paints a clearer picture of just how much cannabis is being purchased in the state.

According to the Board, there has been 50,232 pounds of usable cannabis sold during fiscal year 2016, which began on June 30, 2015. This comes out to roughly 22.5 million grams. If you determine that the average joint weights around half a gram (not a particularly large joint), this comes out to around 45 million joints worth of legal cannabis sold in less than 7 months.