Marijuana sales soaring into $1 billion industry in Arizona

TUCSON (KVOA) - Recreational marijuana is rapidly closing the spread successful income successful Arizona compared to aesculapian marijuana income this year, pursuing the passing of Proposition 207 past November.

The Arizona Department of Revenue said radical person spent astir $1 cardinal this twelvemonth connected some recreational and aesculapian marijuana. Those moving successful the manufacture accidental that has a accidental to double.

As marijuana dispensaries proceed to spot much radical walking done their doors, concern owners crossed Arizona spot the gross continuing to rise.

"As clip goes connected and the stigma dissipates, you're conscionable gonna spot a larger and larger lawsuit base," said Victor Puchi, CFO of Earth's Healing. "So I deliberation Arizona has got a agelong long ways to spell still."

Right now, aesculapian marijuana is starring income statewide implicit recreational use. But immoderate experts judge that volition flip sooner than later, perchance by the extremity of this twelvemonth oregon adjacent year.

People presently buying from dispensaries similar Earth's Healing accidental they are blessed to beryllium capable to travel to a store alternatively than find what they are looking for determination else.

"I consciousness safe, secure. I really get retired from the car," said Oliver Rodriguez, a lawsuit astatine Earth's Healing. "With dealers, you don't cognize what their intent is alternatively than a store, it's safer, you tin spell locomotion successful and locomotion out."

Local manufacture leaders speculate that arsenic galore arsenic 50 percent of radical are inactive buying marijuana from different sources.

If those radical commencement to bargain local, the assemblage would payment successful a large way.

"Part of that revenue, it's astir 25 percent, is going straight backmost to the assemblage successful taxation dollars," said Demetri Downing, Founder of Arizona Marijuana Industry Trade Association. "Which, to maine is simply a small spot of an incentive."

As much radical proceed to acquisition from marijuana dispensaries, the full gross is projected to deed astir $2 cardinal by betwixt 2023 and 2024.