Store managers say slump partly a result of Farmington legalizing pot
Timothy Pearce with Rocky Mountain High in north Durango describes the different types of marijuana that are sold at the dispensary. Dispensaries have been seeing a decrease in marijuana sales in 2022. (Jerry McBride/Durango Herald)
Retail marijuana sales are down this year in Durango, and dispensary managers have two ideas about what might be happening: First, sales spiked during the height of the pandemic and Colorado is now seeing a return to normal and second, New Mexico began selling retail marijuana this year, resulting in fewer New Mexicans traveling here for their supply.
Cannabis has been a booming industry in Colorado since recreational use was first allowed in 2014. It has raked in over $13 billion worth of sales and over $2 billion worth of sales tax revenue for the state.
In 2021, Colorado cannabis sales reached a record high with about $2.23 billion in sales tax revenue. But this year has been slower, bringing in about $1.2 billion in sales tax revenue so far