According to Denver’s annual report on the marijuana industry that was released this week, the city had seen marijuana sales reach a record high of $587 million last year.
The report said that retail sales had totaled $377 million. Revenue from all marijuana sales last year jumped to $44 million, which was a 20% growth from 2016.
“This new report demonstrates Denver’s coordinated approach between multiple agencies to manage marijuana is working,” Denver Mayor Michael B. Hancock stated.
“We took on the daunting challenge of becoming the first major city in America to manage legalized recreational marijuana and we are having success.”
Dispensaries in the state of Colorado have sold a record of over $1 billion worth of recreational marijuana products last year. This was a 27% jump from the year before.
