Reyes said, "this is an industry that can produce $300 million annually, create 11,000 new jobs and $50 million in state revenue, in just the first year."
Hide Transcript Show Transcript
YOU’RE WATCHING KOAT ACTION 7 NEWS. IT’S NOW BEENWO T MONTHS SINCE THE LEGALIZATION OF RECREATIONAL CANNABIS IN NEW MEXICO EDO SALCINO IS HERE WITH US. LOOK AT THE NUMBERS NOW ANGEL. WELL KAELYN TWO MONTHS AGO. WE SAW A LONG LINES OUTSIDE OF CANNABIS DISPENSARIES. NOW THINGS HAVE CALMED DOWN A LITTLE BIT, BUT THE DEMAND FOR CANNABIS IS DEFINITELY STILL HERE. THIS IS AN INDUSTRY THAT CAN PRODUCE00 3 MILLION DOLLARS ANNUALLY CREATE 11,000 NEW JOBS AND 50 MILLION DOLLARS IN STATE REVENUE IN JUST THE FIRST YEAR ALONE,EW N MEXICO RECREATIONAL CANNABIS SALES CONTINUE TO SURGE EVEN AFTER A STRONG OPENGNI MONTH. IT’S BEEN SURPRISING OBVIOUSLY THE REC. ALL BUSINESS JUST CONTINUES TO BUILD CHECKUT O THESE NUMBERS FROM THE CANNABIS CONTROL DIVISION FIRST. LET’S TAKE A LOOK AT APRIL IN APRIL OUR STATE PULLED IN AROUND 22 MILLION DOLLARS IN RECREATIONAL CANNABIS SALES. THAT’S JUST OVER HALF OF TOTAL CANNABIS SALES WHICH REACHED ALMOST 40 MILLION DOLLARS NOW TAKE A LOOK AT THIS IN THE MONTH OF MAY A SLIGHT DECREASE BUT NOT BY MUCH OR STAY SOLD AROUND 21 MILLION DOLLARS IN RECREATIONAL SALES AND THAT ACCOUNTED FOR MOSTAL 55% OF TOTAL SALES. WE’RE SEEING A CONSTANT. YOU KNOW A CONSTANT COMMITMENT TO THIS INDUSTRY TO THIS PRODUCT. WE SEE NEW MEXICAN SUPPORTING NEW MEXICO BUSINESSES BEFORE RECREATIONAL CANNABIS WAS LEGALIZED THERE WERE SOME CONCERNS ON WHETHER THE SPIKE IN DEMAND WOULD TAKE AWAY FROM MEDICAL PATIENTS. WE HAVE NOT HEARD TTHA THE MEDICAL CANNABIS PROGRAM HAS BEEN NEGATIVELY IMPACTED IN ANY WAY BY CRREEATIONAL SALES. STEVE PERRY SAYS, IT’S ACTUALLY HELPED BOOST TO MEDICAL SALES BY THE MANDATE FROM THE GOVERNOR, YOU KNOW, WHERE WE HAVE TO HOLD BACK 25% OF SALES FOR ALL YOU PKNOW MEDICAL SALES ARE MORE THA 50% THE MOST SURPRISING THING AND EXCITING THING IS THE MEDICAL BUSINESS IS VERY STRONG MEDICAL CANNABIS PATIENTS, BUT KNOW THE BENEFITS OF THIS PRODUCT AND WTAN TO SUPPORT THEIR RECREATIONAL PROGRAM, THEY’RE SHOWING UP AT THE SAME WAY THAT THEY ALWAYS HAVE DONE VICTOR. HEY, IT’S ALWAYS ALSO SAYS THE CANNABIS CONTROL DIVISION IS WORKINGIT WH THE DEPARTMENT OF HEALTH TO MAKE SURE ALL MEDICAL CUSTOMERS CAN ACCESS THEIR MEDICINE CONSISTENTLY.
Advertisement Cannabis sales continue to surge in New Mexico Reyes said, "this is an industry that can produce $300 million annually, create 11,000 new jobs and $50 million in state revenue, in just the first year." Share Copy Link Copy
It's now been two months since the legalization of recreational marijuana in New Mexico, and the demand for cannabis has remained high. New Mexico recreational cannabis sales continue to surge even after a strong opening month.Victor Reyes is the deputy superintendent for the New Mexico Regulation and Licensing Department. Reyes said, "this is an industry that can produce 300 million dollars annually, create 11 thousand new jobs and $50 million in state revenue, in just the first year."The Cannabis Control Division recently released the statewide number of cannabis sales in our state. In April, our state pulled in $22 million in recreational cannabis sales, and that's just over half of the total cannabis sales, which reached almost $40 million.In the month of May there was a slight decrease but not by much. Our state sold around $21 million in recreational cannabis, and it accounted for almost 55% of total cannabis sales."We're seeing a constant, you know, a constant commitment to this industry to this product, we see New Mexican, supporting New Mexico businesses," Reyes said.Before recreational cannabis was legalized, there were some concerns about whether the spike in demand would take away from medical patients and their access to medicinal cannabis.Steve Pear is the president of the New Mexico division of Schwazze. Pear said, "by the mandate from the Governor, you know, we're we have to hold back 25% of the sales for medical, you know, the medical sales are more than 50%. The most surprising and exciting thing is that the medical business is very strong."Reyes said a big part of the increase is because medical cannabis patients know the product's benefits and want to support the recreational program. Reyes also says the Cannabis Control Division is working with the New Mexico Department of Health to make sure all medical customers can access their medicinal products consistently.