CO Marijuana Sales Top $1 Billion In 2016

The Colorado Department of Revenue announced last week that combined sales of recreational and medical marijuana topped $1 billion in 2016. From the 1.3 billion dollars in marijuana sales, Colorado collected nearly $200 million in state tax revenue. The $200 million dollars does not include the millions in tax revenue marijuana sales generated for local communities through their local marijuana sales tax. This is the first time in the three years, that recreational marijuana sales have been legalized in Colorado, that sales surpassed the billion dollar mark. In 2014, the first year recreational sales were allowed in the state, Colorado sold approximately $700 million in recreational and medical marijuana, sales grew to $996 million in 2015. With marijuana sales projected to increase for the foreseeable future, the state can expect revenues generated from marijuana to continue to grow. The growing revenues may also continue to fuel the conversation in Craig and Moffat County about recreational marijuana sales as leaders continue to look  for ways to diversify the economy.

Comments are closed.