Arizona, circa 2010, passed Proposition 203, which allowed for medical sales to take place within state borders. In the first year of sales, a total of $40 million was generated from the cannabis industry. At the time, the figure ranked Arizona in the top five largest medical cannabis markets in the United States.
Then, in 2020, Proposition 207 was proposed and approved to extend cannabis sales for adult-use, a move that garnered much controversy at the time but was promoted as a way to promote further the bolstered economy seen from the first few years of legal medical sales.
Dispensary owners who were operational pre-Prop 207 felt an even bigger boom was bound to happen, and owners and staff prepared accordingly.
Those predictions were correct, with the Arizona Department of Revenue reporting more than $1.23 billion in combined medical and adult-use cannabis sales through the first 11 months of the year.
To read the complete article, go to www.azdailysun.com
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Other news in this sector:
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