Colorado Expects $1 Billion In Marijuana Sales Next Year

The latest sales projections suggest legal marijuana in Colorado could become a billion dollar industry by next fiscal year.

Data extrapolated from a new budget proposal, submitted by the governor’s office on Wednesday, predicts a total of $612.8 million in recreational marijuana sales during FY 2014-2015, which begins in July.

English: Discount Medical Marijuana cannabis s...

Medical marijuana sales are expected to bring in an additional $344.9 million over the same period.

The new sales estimates, which approach $1 billion in total, are significantly higher than previous forecasts. A fiscal analysis released last year projected recreational marijuana stores to generate $395 million in sales during FY 2014-2015.

According to Gov. John Hickenlooper’s budget director Henry Sobanet, the new figures reflect a better understanding of the industry.

Read more via Colorado Expects $1 Billion In Marijuana Sales Next Year – Leaf Science.

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