Since its legalization in April, the sale of cannabis is proving itself to be big business for the State of New Mexico, as well as for all of those who have embroiled themselves into the thriving industry.
The New Mexico Cannabis Control División (NMCCD), a division of the state’s Regulation and Licensing Department, reports that adult recreational and medical use sales of cannabis during the month of May topped $38.5 million statewide, down only about $1 million from April’s sales.
Adult-use recreational sales were $21,100,803.88 (54.76%) and medical-use sales were $17,431,953.58 (45.24%).
Director of the NMCCD Kristen Thomson said in a June 2, press release (PDF), “These sales figures depict a steady pace that we expected when adult-use cannabis was legalized. Our staff continues to work diligently to ensure applicants move through our licensing process efficiently, and ensure licensees operate within a safe, accessible, and effective regulated market.”
Hobbs Posts High Sales Numbers
Lea Country is proving to be an active market for the newly legalized industry. Not outselling the state’s population centers of Albuquerque, Santa Fe, Las Cruces, and Rio Rancho during the month of May, the City of Hobbs ranked fifth in total sales – $1,203,299.45 adult-use recreational sales and $408,984.45 medical-use sales.
The proximity of Hobbs to the Texas border, only about four miles away, is thought to be one of the key reasons sales figures are so healthy here.
Supporting the proximity to Texas theory are the high sales in Las Cruces, only about a 45 minute drive, depending on traffic, from El Paso, Texas and in tiny Sunland Park, located just across the state line. Healthy sales are, additionally, being recorded in the close-to-Texas communities of Carlsbad, Alamogordo and Ruidoso.
Texas and Cannabis
Cannabis remains an illegal drug in Texas. Possessing as little as up to two ounces of the substance is a misdemeanor punishable by up to 180 days in jail and a $2000 fine. Adult Texans wanting to legally use marijuana now have the ability to travel to New Mexico to possess and use the drug legally.
A recent poll conducted by the University of Texas at Tyler estimates that 83% of Texans approve the medical use of cannabis and 60% support its legalization for adult recreational use. Still, Governor Greg Abbott (R) remains “unmoved” by the poll. While his opponent in the November gubernatorial race Beto O’Rourke (D) “…supports the complete legalization of marijuana.”
Heather Brewer, a spokeswoman for the NMCCD, comments, “‘We are happy to welcome visitors from Texas and around the country to come to our state to enjoy great cannabis products.’”
The Executive Director of the New Mexico Cannabis Chamber of Commerce Ben Lewinger agrees. He says, “For those towns along the border … it [the legalization of marijuana] represents a time-constrained opportunity to realize tourism dollars.'”
Cannabis retailers are taking advantage of this opportunity. They are opening new dispensaries close to the state line. The New Mexico legislature’s concept of using the legalization of adult-use, recreational marijuana as a tool for economic development is proving successful. A win for the state and all New Mexicans involved in the industry.
Shortly, statewide cannabis sales figures for the month of June will be reported. Predictions are that they will be positive and show that economic development in the state is thriving. The Democratic Party of New Mexico website states that New Mexico’s cannabis industry “…is helping grow and diversify our economy, while creating thousands of new jobs right here in our state. …The selling and production of cannabis also opens the floodgates for New Mexico’s small and minority-owned businesses and entrepreneurs to benefit.
