Ten years after Massachusetts voters passed the state’s adult-use cannabis reforms, the legal cannabis market has now surpassed $10 billion in total sales, the State House News Service reports.
Massachusetts Cannabis Control Commissioner (CCC) Anthony Wilson called the milestone a “mixed bag,” noting that “I don’t know if we necessarily want more people using intoxicating substances.”
“On the other hand, we’ve created a market that’s creating jobs, that’s providing a revenue to the state, and more importantly, feeding families, and is not having some of the negative, scary social impacts that people were worried about ten years ago.” — Wilson, via the News Service
The CCC announced that Massachusetts cannabis operators crossed the $10 billion milestone on September 5 after several months of strong sales, which included a new monthly record in June. The milestone comes as voters are set to consider a ballot initiative this November that seeks to repeal the adult-use industry.
“This is a significant moment for the Massachusetts adult-use industry and for the state. An industry that isn’t even a decade old has become an integral part of our economy, counting hundreds of businesses of all sizes and employing nearly 15,000 people,” CCC Chair Chris Harding said in a statement. “Every adult-use sale generates tax revenue that goes back into vital programs and services at the state and local levels, from substance abuse treatment programs to police training and the Cannabis Social Equity Trust Fund.”
Ganjapreneur: Offering daily insights since 2014, the leading digital business journal for cannabis industry professionals. Subscribe to the newsletter to join our community of over 40,000 ganjapreneurs.
