The Massachusetts cannabis market is proving to be highly successful in a short time
It has been just over eight months into this year and recreational marijuana retailers in Massachusetts have already achieved sales that surpass the number reported in 2020 as a whole. According to the report, revenue from marijuana products sold compared to last year has already been surpassed by more than $140 million and, when it comes to total legal sales, Bay State Bud has now left more than one with their mouths agape, surpassing the $2 billion mark.
According to a report shared by the Cannabis Control Commission (CCC) yesterday (in the midst of its fourth-anniversary celebration), the state’s licensees have sold more than $844 million worth of cannabis and non-medical cannabis products since the start of this year. The launch of the legal industry in the state occurred on November 20, 2018, and with current figures, gross sales have already reached a staggering $2,009,007,478.
“As the Commission reflects on our four years of work, I hope the Commonwealth is proud of the agency we have built and the new industry that has been introduced and established,” CCC Executive Director Shawn Collins said. “This milestone speaks to the success of licensees that have interacted with the Commission from the application stage, maintained compliance with our strict regulations, and contribute every day to communities across the Commonwealth.”
The news shared yesterday definitely highlights how the cannabis industry has recently been experiencing exponential growth. According to the CCC, the adult-use cannabis industry in the state included about 16,667 active employee registrations as of August, which shows that in addition to providing great profits, it opens up plenty of job opportunities for those interested in being part of the industry.