Sales reported from the stores were $75 million in December in Washington State, the second highest month recorded, consistent with the three previous months. Using the last few months, it can be said annual sales are $900 million.
As usual in Washington, that figure does not include the untracked medical marijuana stores, which are being folded into the retail system this year. Some guesses are that means another $900 million when fully integrated. But that’s probably high.
I suspect “patients” of the medical outlets have been migrating to the retail stores as they can see their current supplier will likely not be in business in a few months. I’ll bet it’s fair to guess that Washington’s marijuana industry will be worth $1.5 billion. That’s a big bite out of the black market, an excellent source of significant tax payments, and a big player in the state’s agricultural menu.
Currently, the Liquor and Cannabis Board are considering a rule change to drop the residency requirement to be an investor in Washington businesses. One side argues the opportunities for financing will increase, the other side predicts the loss of locally-owned entrepreneurship.