Colorado Sold $1 Billion of Weed in the First 10 Months of 2016
It’s always 4/20 in Colorado—at least, during the first 10 months of 2016. The Denver Post reports that according to new October data from Colorado’s Department of Revenue, marijuana shops reached $1 billion in legal, regulated sales.
In February, when 2015’s year-end marijuana tax data was released, it showed $996,184,788—just shy of a billion, although leading industry attorney Vincente Sederberg told the Cannibist at the time, “I think it’s ethical to round up to a billion.”
Sederberg told the Cannabist on Monday:
“We think we’ll see $1.3 billion in sales revenue this year, and so the economic impact of this industry—if we’re using the same multiplier from the Marijuana Policy Group’s recent report, which is totally reasonable—it suddenly eclipses a $3 billion economic impact for 2016.”