Cannabis sales in New Mexico break records
"Cannabis continues to expand nationally, globally, and in New Mexico, and I don't expect it to go away," said Kirk
"Cannabis continues to expand nationally, globally, and in New Mexico, and I don't expect it to go away," said Kirk
"Cannabis continues to expand nationally, globally, and in New Mexico, and I don't expect it to go away," said Kirk
It's been four months since recreational marijuana became legal in our state, and sales started out strong for the industry. Last month, our state made more than $40 million in total cannabis sales. That tops every previous month, including April.
Recreational marijuana sales are taking off in our state, bringing millions of dollars into dispensaries like Everest Cannabis. Trishelle Kirk is the CEO.
"Cannabis is not going away. People are using cannabis as an alternative to traditional prescription medications and alcohol. Some people are seeing their friends and family use the product and get relief and are getting comfortable with the concept of trying it," said Kirk.
Our state made more than $39,400,000 in the opening month of April. More than $22 million of that in recreational cannabis sales. Four months later, New Mexico pulled in a record $40,300,000 in July. More than $23 million in recreational sales.
"People want access to recreational cannabis. They're interested in it, they want to try it, they want to integrate it into their daily lives," Kirk said.
Will our state continue to see this level of growth? KOAT spoke to UNM Economist Reilly White to learn more.
White said, "we might not see the growth that we saw in the last month, every month, but the trajectory is strongly upward."
White says states like Texas, where recreational marijuana isn't legalized, are major drivers for the business.
"As long as there's a discrepancy and it's not legalized federally, you're going to see a lot of the dispensaries do quite well," said White.
White also believes that the fall could bring new surges of revenue.
"Coming up in October, we have the Balloon Fiesta, a large out-of-state driver for New Mexico citizens. Is that going to result in increased sales for dispensaries," said White.
Kirk said, "cannabis continues to expand nationally, globally, and in New Mexico, and I don't expect it to go away."
Many dispensaries are now adding to their businesses to meet the demand increase. Everest cannabis has added 80 new jobs to educate and serve first-time customers.