Report: Colorado Cannabis Sales on the Decline

Colorado’s February cannabis sales this year declined 14.2% from the same month in 2022, continuing an overall year-over-year decline in both adult-use and medical cannabis sales for the state.

Full story after the jump.

Combined adult use and medical cannabis sales in Colorado were $124 million in February, a decline of 14.2% from the same month in 2022, according to state Department of Revenue data outlined by KDVR. In all, adult-use cannabis sales in Colorado have declined 12.7% year-over-year, while medical cannabis sales have fallen 23.7% year-over-year, according to state data.

Cannabis sales tax collections in the state were down 19% last month compared to March 2023, according to the revenue department. The state also saw the loss of 10,481 cannabis jobs last year, according to the Vangst 2023 Jobs Report outlined by KDVR.

Tiffany Goldman, board chair of the Marijuana Industry Group, told KDVR that the organization is “already seeing business owners close their doors and leave Colorado, taking critical jobs and tax revenue with them.”

“Our industry supports thousands of jobs and public programs that Coloradans care about like affordable housing, public safety, mental health and addiction treatment, education and more. Unfortunately, cannabis small business owners will not be able to withstand continued increases in taxes and regulations, dated and draconian federal regulations, and a growing unchecked and unregulated intoxicating hemp industry for much longer.” — Goldman to KDVR 

Colorado was among the first states to legalize cannabis for non-medical purposes, joining Washington state in 2012 via ballot initiatives.  

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