Jacob Bell
New Member
Boulder, CO--The medical marijuana industry continues to perform well in Boulder, spurred in part by a surge in sales surrounding April's 4/20 pro-pot celebration at the University of Colorado, according to a new assessment of city sales-tax collections.
Through the end of May, medical marijuana dispensaries in Boulder have collected $312,435 in sales tax for the city's coffers. That represents about $9.2 million worth of retail marijuana sales.
The city's most recent tax report, released Wednesday, shows a spike in medical marijuana sales in April.
Dispensaries reported retail sales of about $2.1 million in April. That's about $270,800 more than the average month this year, and $98,900 more than the next biggest sales month of February.
Bob Eichem, Boulder's finance director, said the medical marijuana industry is still in its infancy, so it's difficult to say what the normal monthly sales should be.
But some people have suggested that the sales spike may be a direct result of the unsanctioned 4/20 smoke-out on CU's Boulder campus.
On April 20, an estimated 10,000 people lit up marijuana-filled pipes and cigarettes on Norlin Quad during the annual smoke-out. Some Boulder dispensaries ran sales that day to entice customers.
Greg Glennie, manager of The Green Room, located at 1738 Pearl St. in Boulder, said his company was among those that ran specials for 4/20. He said there was a noticeable bump in sales because of the event.
But beyond 4/20, Glennie said sales have been better this year overall.
"We've actually seen slightly increasing numbers all year," he said. "It's a good indicator that the economy is coming back around."
If Glennie is right, the industry could be on its way to a banner year.
The amount of sales tax that Boulder collected during the first five months of the year from medical marijuana businesses is about 55 percent of the total collected in all of 2010. That puts sales on pace for a record year.
In total, the medical marijuana industry now makes up about one-half of 1 percent of Boulder's sales-tax collections. Boulder's restaurant and grocery industries, meanwhile, each make up about 13 percent of the city's sales-tax collections.
News Hawk- Jacob Ebel 420 MAGAZINE
Source: dailycamera.com
Author: Heath Urie
Contact: Contact Us
Copyright: Media News group
Website: Boulder's medical marijuana sales spiked around 4/20
Through the end of May, medical marijuana dispensaries in Boulder have collected $312,435 in sales tax for the city's coffers. That represents about $9.2 million worth of retail marijuana sales.
The city's most recent tax report, released Wednesday, shows a spike in medical marijuana sales in April.
Dispensaries reported retail sales of about $2.1 million in April. That's about $270,800 more than the average month this year, and $98,900 more than the next biggest sales month of February.
Bob Eichem, Boulder's finance director, said the medical marijuana industry is still in its infancy, so it's difficult to say what the normal monthly sales should be.
But some people have suggested that the sales spike may be a direct result of the unsanctioned 4/20 smoke-out on CU's Boulder campus.
On April 20, an estimated 10,000 people lit up marijuana-filled pipes and cigarettes on Norlin Quad during the annual smoke-out. Some Boulder dispensaries ran sales that day to entice customers.
Greg Glennie, manager of The Green Room, located at 1738 Pearl St. in Boulder, said his company was among those that ran specials for 4/20. He said there was a noticeable bump in sales because of the event.
But beyond 4/20, Glennie said sales have been better this year overall.
"We've actually seen slightly increasing numbers all year," he said. "It's a good indicator that the economy is coming back around."
If Glennie is right, the industry could be on its way to a banner year.
The amount of sales tax that Boulder collected during the first five months of the year from medical marijuana businesses is about 55 percent of the total collected in all of 2010. That puts sales on pace for a record year.
In total, the medical marijuana industry now makes up about one-half of 1 percent of Boulder's sales-tax collections. Boulder's restaurant and grocery industries, meanwhile, each make up about 13 percent of the city's sales-tax collections.
News Hawk- Jacob Ebel 420 MAGAZINE
Source: dailycamera.com
Author: Heath Urie
Contact: Contact Us
Copyright: Media News group
Website: Boulder's medical marijuana sales spiked around 4/20
