Colorado marijuana sales holding steady with $109 million in January 2017
Published: Mar 9, 2017, 6:58 pm • Updated: Mar 9, 2017, 6:58 pm
By Alicia Wallace, The Cannabist Staff
Colorado marijuana shops kicked off 2017 by selling nearly $109 million in recreational and medical cannabis in January, marking a 23 percent increase from January 2016, the latest revenue data show.
The Cannabist’s calculations of state tax revenue data that dropped Thursday afternoon show that recreational marijuana sales in January 2017 totaled $77.9 million — up $21.4 million year-over-year — while the month’s medical marijuana sales were $31.1 million, a 2.8 percent decrease from January 2016.
It’s the eight consecutive month that medical and adult-use sales have topped $100 million.
It’s also the fifth consecutive month that medical sales have seen a drop. Medical marijuana sales in the state have steadily declined since setting a yearly high of $41.4 million last August, Cannabist tabulations show.
Related stories
- Colorado sold $1.3 billion worth of marijuana in 2016
- Colorado marijuana sales top $106M in November
- What legal states need to know about sketchy pot tax predictions
- Colorado marijuana sales: $1 billion in first 10 months of 2016
- Directing some Colorado pot tax money to homeless programs is a good call
The monthly sales equate to $17.7 million in revenue to the state from taxes and licensing fees, according to the Department of Revenue report.
Colorado’s young marijuana industry reeled in $1.3 billion in sales in 2016, a year that included a spate of record-setting summer monthly totals.
Economists have said it’s likely that the industry could outdo itself again this year, but extending those sales gains beyond 2017 would be challenging.
By 2018, the medical or recreational marijuana programs could be up-and-running in some or all of the eight states that voted in November to legalize.
Sales stats for Colorado weed A month-by-month look comparing sales of recreational and medical marijuana 2017 Recreational total (1 month)
$77,870,699 2017 Medical total (1 month)
$31,124,095 2017: $108,994,794 2016 Recreational total (12 months)
$875,277,360 2016 Medical total (12 months)
$437,879,186 2016: $1,313,156,545 Source: Colorado Dept. of Revenue; graphic by Kevin Hamm, The Denver Post
Topics: Colorado, colorado marijuana sales, colorado tax results, medical marijuana, recreational marijuana, taxes
Alicia Wallace
Alicia Wallace joined The Cannabist in July 2016, covering national marijuana policy and business. She contributes to the Denver Post’s beer industry coverage. In her 13 years as a business news reporter, her coverage has spanned the economy, Sports…
