Colorado marijuana shops raked in $1.5 billion in sales during 2017, according to data released Friday by the Colorado Department of Revenue.
Dispensaries sold $128.3 million of medical and adult-use cannabis — flower, edibles and concentrate — during the month of December, resulting in an annual total of nearly $1.51 billion, a new yearly record for Colorado’s 4-year-old industry. Colorado collected upward of $247 million in taxes and fees revenue from marijuana sales, according to state finance data.
Colorado’s marijuana industry may have notched a new high in 2017, but analysts and economists caution that sales may soon plateau. Growth rates have declined significantly since the early days of recreational marijuana legalization.
Cannabis sales in the state were up 15.3 percent in 2017. In 2016, sales grew 31 percent.
This article was originally featured on The Denver Post.