The Cannabis Control Commission (CCC) announced Friday that more than $4 billion in cannabis products have been sold in Massachusetts since the first two cannabis retailers opened in November of 2018.
Over these past several years the industry has blossomed to 265 cannabis retailers and 14 distribution companies.
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“This Industry Is Booming, It’s Massive, It’s Not Going Anywhere,” Cannabis Control Commissioner Ava Concepcion recently told WBZ-TV. “We’ve surpassed cranberries as being Massachusetts’ cash crop.”
Voters legalized recreational cannabis use in 2016, but sales didn’t begin until late 2018.
so far in 2023According to CCC data, retail sales of marijuana have exceeded $85 million. And in 2022 alone, 71 new retailers and seven delivery companies are set to open in the Bay State, generating $1.5 billion in cannabis sales.
“Consumer demand for tested, quality cannabis products remains strong as Massachusetts becomes the first East Coast state to open adult-use stores in 2018 and delivery service in 2021,” CCC Executive Director Sean Collins said in a press release. ” “As new jurisdictions come online, I am confident that licensees across the Commonwealth will maintain a competitive edge by demonstrating to peers how to operate a safe, effective and equitable cannabis industry.”
Cannabis in MA is subject to a 6.25% state sales tax and a 10.75% state excise tax. Cities and towns may add an additional tax of up to 3%.