New Mexico's governor, Michelle Lujan Grisham, is celebrating the one-year milestone of the state's legalization of adult-use marijuana. The industry has brought in over $300 million in sales since April of last year and has created thousands of new jobs. Governor Grisham noted that sales have remained steady, with March breaking records at $32.3 million in recreational cannabis purchases. This marks a significant achievement for the state's economy and cannabis industry.
New Mexico's adult-use cannabis industry had a booming first year; in total, sales for medical and adult-use markets totaled $488.3 million by the end of the year! Adult-use market revenue accounted for an impressive $300.1 million while medical cannabis sales brought in a little over $187 million combined – highlighting just how much progress legal marijuana made across The Land of Enchantment this past year.
New Mexico's adult-use marijuana sales have reaped over $27 million in tax revenue since the start of sales. The state's general fund and local communities have benefited from these impressive profits, which were gained through 10 million separate transactions. Governor Michelle Lujan Grisham emphasized the success of this booming industry and its significant impact on the state's economy.
New Mexico Governor, Lujan Grisham, has remained tight-lipped about her possible involvement in the cannabis market's first year. The Governor's silence has fueled speculation amongst the public about whether she made any purchases. However, during a trip to a cannabis retailer on opening day last year, she hinted that she might have participated. While nothing has been confirmed, her visit has piqued the interest of New Mexico's curious cannabis enthusiasts.
New Mexico's cannabis industry had a successful first year, with the adult-use market alone generating over $300 million in sales and almost $27 million in taxes. Governor Michelle Lujan Grisham has praised this booming industry for its significant impact on the state's economy. The success of legal marijuana across The Land of Enchantment clearly demonstrates that there can be great economic benefits from legalizing the recreational use of cannabis. We look forward to seeing what new opportunities arise as we continue down this path!