Marijuana dispensaries have become increasingly common across the nation as the substance becomes legalized in more and more states. Whether a state legalizes marijuana for medical purposes, recreational purposes, or both, it’s obvious that the substance is here to stay.
The states that have fully legalized recreational marijuana are following in the footsteps of Colorado, and are likely hoping to see similar tax revenue. Considering that Colorado has earned an estimated $60,100,000 annually since legalizing marijuana, it makes sense that other states are following suit.
As of July 2017, Oregon brought in $35,926,000 from marijuana sales. And in 2016, the state brought in about $60,140,000. That’s more than Colorado! October proved to be the most lucrative month for Oregon, bringing in a total revenue of $7,831,157. No matter how you slice it, that’s a lot of money from your local marijuana dispensary. But states aren’t the only entities profiting from marijuana sales.
In January of 2017, a local sales tax went into effect across the state. Although the precise amount isn’t known yet, the tax has earned between $680,000 and $980,000 in local jurisdictions. This amount has been made on a per-month basis since the tax went into effect, and it’s a sizable sum for a local government to put to use.
But how does that weigh out to grams and price per gram, the measurement that marijuana sales are gauged by?
According to the state’s first, and so far only, report on Oregon Marijuana Tax statistics, the average purchase has a relatively small price range. The average price in Portland, for example, ranges from $8.42 to $9.42 per gram, while the state average is around $8.76 per gram. How this compares to the black market price points is unknown.
The exact figures for 2017 have not been released yet, but there are estimates that at least 18 million grams of marijuana have been sold for recreational use since its legalization in January of 2016. These means that state marijuana dispensaries are proving to be a very lucrative investment.
So far the city of Portland has the largest amount of marijuana being sold compared to the rest of the state, with 3 grams sold for every 1.9 grams. Oregon might not be able to see the future, but it certainly looks bright if these numbers are any indicator.
