With the legalization of medical cannabis came New Hampshire’s first three dispensaries. In the last fiscal year that added up to $5.1 million dollars worth of cannabis sales.
“Last fall, the state vastly expanded the number of qualifying conditions that can be treated with cannabis, contributing to a six-month, 36 percent jump to 4.753 users on Dec. 31. One projection estimates sales will quadruple to $22 million by 2021.”
Author Bob Sanders notes that New Hampshire is lagging behind its neighbors, with three surrounding states selling an estimated $160 in 2016, estimating the results of recreational legalization will produce about $1.4 billion dollars in sales.
ne concern highlighted in the article New Hampshire residents driving to Massachusetts purchase cannabis for recreational use, resulting in the possibility of NH missing out on huge sums of tax revenue. An interesting irony considering many residents of Massachusetts drive to our state to save money on the purchase of alcohol and tobacco.
Bob also runs down current challenges with financing and the variety of cannabis companies operating in the state. A good read that I recommend for the community. Visit the NHBR.com to read the full piece.
*image sourced from NHBR.com