The cannabis industry is booming, and New Mexico is no exception. In July, the state’s cannabis dispensaries generated a record-breaking $40.3 million in medical and adult-use sales.
According to figures released by Governor Michelle Lujan Grisham’s office, medical cannabis sales topped $16.8 million and adult-use sales reached a staggering $23.5 million.
These numbers are almost $1 million more than the last record released in April. April was also the first month of adult-use sales in the state of New Mexico.
The growth of the cannabis industry can be attributed to a number of factors, including the legalization of recreational marijuana in California and other states and the increasing acceptance of marijuana nationwide.
According to HEMPREVS, “The state’s population centers of Albuquerque ($14.6 million), Santa Fe ($3.5 million), Las Cruces ($3.3 million), Hobbs ($1.6 million), and Rio Rancho ($1.6 million) saw the highest July sales numbers.”
In a statement, Grisham said, “These numbers show that the impressive sales generated in the first month of legalized recreational cannabis sales were no fluke – and this is only the beginning. We’ve established a new industry that is already generating millions of dollars in local and state revenue and will continue to generate millions more in economic activity across the state, creating thousands of jobs for New Mexicans in communities both small and large.”
Other facts regarding these record-breaking cannabis numbers in NM:
- Two cities sold more medical cannabis than adult-use cannabis: Alamogordo (medical cannabis: $554,409 vs. $424,514 adult-use) and Tularosa (medical cannabis: $31,603 vs. $30,730 adult-use.)
- Adult-use cannabis sales in New Mexico totaled $21.2 million in June, which was similar to those in May.
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