Arizona’s cannabis market has turned into a billion-dollar industry for the state

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Arizona residents have wasted no time embracing adult cannabis

It appears that voting yes on Proposition 207 last November was a gamble that is paying off in the state of Arizona. Perhaps not many were aware of the big push that the marijuana business would have on these grounds, but without a doubt, the decision could not have been any better. According to recent reports, it won’t be long before it becomes a billion-dollar industry.

State revenue figures were shared some time ago, and it was shown that as of September, The Grand Canyon State had recorded a total of $970 million in marijuana sales, a figure that has perplexed more than one seller. Such was the case of Matthew Blum, who works for Grow Sciences, a marijuana grower in Phoenix. He said, “When I got into this 25 years ago, I did not think I would be seeing this.”

The grower has the ability to grow more than 100 different strains of cannabis, and he saw that there was also a possibility of expansion into the medical marijuana market. “We expanded for the medical market this 10,000 square feet. This building is completely built out now,” Blum said.

Once recreational marijuana was enacted, Blum and his partners admitted it would be impossible for them to meet the enormous demand. Because of this, the company began to look into the possibility of purchasing a new property to meet the enormous challenge ahead. “Scalability is the name of the game in cannabis right now. And the people that are going to be around when all is said and done,” Blum said.

Arizona is undoubtedly proving to be a hot state for the marijuana business, making it an essential location for more and more companies looking to set up operations on its soil.