The Pot Business Is Starting Off Even Better in Oregon and Washington Than It Did In Colorado

[marmar]

(Bloomberg) The cannabis industry is on a roll, according to the latest survey from brokerage firm Convergex.

Marijuana for both medical and recreational purposes is seeing "vibrant" growth as more U.S. states have opened legal markets, Convergex wrote. The team, led by analyst Jessica Rabe, says, "Our Colorado contacts reported steady pricing and customer traffic compared to three months ago, and brought in $576 million in retail marijuana sales last year – 84 percent more than in 2014."

According to an earlier report from Bloomberg, some experts believe this will be a $20 billion industry by 2020 as more states legalize pot.



In fact, Washington and Oregon, which started selling retail cannabis in July 2014 and October 2015, respectively, have seen even quicker adoption than in Colorado.

Convergex found that Oregon brought in $3.5 million in tax revenue during the first month that cannabis sales were taxed, which tops what Colorado or Washington saw in their first months of operation. "[This] exceeded the $2.9 million in taxes collected for both medical and retail marijuana sales in Colorado when stores were first able to sell the drug recreationally in January 2014. Washington also received less, only $1 million in August 2014." Washington also collected $486 million in total sales last year, nearly as much as Colorado despite having less time to mature as a market. ..............(more)

http://www.bloomberg.com/news/articles/2016-03-24/the-pot-business-is-starting-off-even-better-in-oregon-and-washington-than-it-did-in-colorado

[L. Coyote]

1. Spring Break in Oregon is very popular right now.

[redstatebluegirl]

2. Think about how many states could be bailed out by the taxes on legal pot.

Not to mention the case loads in the courts that would be so much lighter, fewer people in jail ... it goes on and on.

[Scuba]

3. Time for nation-wide legalization.

[Visionary]

4. Time for further legalization

Excellent read. I'm going to be sorely disappointed if the next presidential candidate doesn't at least reschedule cannabis. The inconsistency between states and federal law on this issue is gonna need to be addressed at some point.

[sorefeet]

5. The right wing scum who

don't want the government in my business, are trying to end the medical marijuana program in Montana. Which was approved by 62% of the voters. Explicitly the Mormon cult trying to take over the state.

[Visionary]

8. Indeed

It's seriously depressing living in Salt Lake City. The Mormon controlled legislature pretty much has the state in lockdown and they work to destroy any chance at social progress.

[ghostsinthemachine]

6. And that is a small % of the industry

Most of it, in all states remains underground. 80% or more.

[sorefeet]

12. You are right ghostsinthemachine

even though Montana is legal for some medical marijuana, the majority of the use is underground.

[rjsquirrel]

7. Sign me up

I have taken three straight vacations in Washington -- and spent many thousands in that state -- as a result since legalization.

There is nothing like being high on a mountain.

[CrispyQ]

10. "...and spent many thousands in that state ..."

[rjsquirrel]

14. Nice hotels, rental cars, fancy dinners

Seattle is a nice town of you have bucks to spend.

Only $12-15 a gram for good indica leaves plenty for Washingon state wine.

[CrispyQ]

9. I'll vape to that!

[Adsos Letter]

11. Top Shelf Wellness Center

Phoenix, Oregon

[Ohio Joe]

13. K&R - nt