In the five years since the first retail dispensary opened on January 1, 2014, Denver saw over $2.4 billion in marijuana sales, according to Colorado Department of Revenue data.
The industry has changed a lot in those five years, though, with more and more Colorado municipalities allowing the sale of recreational marijuana...and more and more states around the country legalizing marijuana. One of those changes? Denver sales were down 7 percent last year over the year before.
Why are those sales figures down? Readers have several thoughts. Says Jimmy:
I'm not gonna say that sales are down because more states have legalized and less is shipped out, but....
The answer for dropping sales figures is easy...prices are dropping because of increased competition. And sorry to say, quality is dropping along with sales.
Sales fell because people are figuring out ways to grow their own. Also, more states are making it legal so not everyone feels the need to exclusively fly to Colorado to get it.
Probably because the product is being grown too fast and hitting the shelves still uncured, and there is so much inferior product being sold for outrageous prices, or so I have noticed at all the shops in Weld County, and many other around the Front Range. I stick to one shop where the price is right and quality is by far superior. Maybe more people than me have noticed there is no flavor and a lot of stuff is rough, so they probably went off grid for it more often.
The black market is thriving.
I need to raise the revenue.
Keep reading for more on marijuana revenues and taxes.
Marijuana Deals Near You
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"Pot Revenue Could Fund New Education and Law Enforcement Programs"
At the same time Denver revenues are dropping, more and more bills at the Colorado Legislature are eying taxes from marijuana sales and suggesting that money fund their own pet projects...everything from new education programs to yet more law enforcement.
"Any new revenue source to the state is something that everyone is going to take a chunk of, if available," explains Jason Warf, executive director of marijuana lobbying group the Southern Colorado Cannabis Council. Warf says he and his colleagues regularly look at bills asking for marijuana funds to make sure the proposals aren't overreaching or too costly. At the moment, eighteen proposals are looking to pot for their funding.
What do you think of the latest sales figures? Where do you think the tax money should go? Post a comment or email your thoughts to email@example.com.