Recreational marijuana retailers in Massachusetts surpassed $1 billion in gross sales almost two years after the market began operating.
According to information reported in the state’s seed-to-sale tracking system Metrc, the 80 adult-use marijuana stores in Massachusetts hit the benchmark at the close of business on Oct. 30, the Cannabis Control Commission (CCC) announced Tuesday in a news release.
“This sales milestone represents licensees’ ability to successfully support a safe, accessible and effective adult-use industry, and I am pleased the resulting tax benefits will have a significant impact on communities throughout the Commonwealth,” CCC Chair Steven J. Hoffman said.
Marijuana sales in Massachusetts tallied $444.9 million for 2019.
Since Jan. 1, 2020, cannabis companies have already surpassed that total, generating $539 million in gross sales despite two months of closures as a result of the COVID-19 pandemic.
Since Massachusetts’ first two marijuana stores opened in 2018, 82 more have received notices from the CCC to begin operations statewide and are in the process of opening.
Another 201 stores with provisional or final license approval are completing the CCC’s inspection and compliance procedures.