The Maine cannabis market recorded $ 58.5 million in first year sales

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Maine’s adult cannabis industry reported more than $ 58 million in its first year of operation. More than 788,000 sales have been recorded since it was first opened to the public in October 2020. Friday’s update from the Maine Office of Marijuana Policy included sales data from the first day of sales through late September, about a week prior to the full year of adult sales. “It exceeded our expectations. We are very pleased with the way the past 12 months have gone,” said Erik Gundersen, director of the Office of Marijuana Policy in Maine. Sales grew steadily in the first year, reaching record eleven consecutive months from October to August. September was the first month in which sales of the previous month were not exceeded. “This is proof that this has been a huge success and people are happy about it,” said Jim Henry, CEO of cannabis company Sweet Dirt. Sweet Dirt ran a medical cannabis program for a number of years before the adult use program launched and opened its first recreational store in Portland in December. Henry said that during that time they have grown from a business with 20 employees to a company with more than 100 employees between cultivation, manufacturing and retail locations. “It’s really becoming a normalized solution for people. People understand that it’s not the boogie man and they are absolutely excited to be part of it,” said Henry. This normalization is key to the continued success of legal cannabis in Maine, Henry said. Ideally, he would like to see the cannabis products made in Maine reach the same level of international recognition as other local favors like craft beer or blueberries. He points to innovative new product areas, such as the burgeoning cannabis beverage industry, as one more area for the growth of Maine’s burgeoning cannabis economy. According to state data, there are 57 active store licenses across the state. 174 license applications are currently going through the review process.

Maine’s adult cannabis industry reported more than $ 58 million in its first year of operation.

More than 788,000 sales have been recorded since it was first opened to the public in October 2020.

Friday’s update from the Maine Office of Marijuana Policy included sales data from the first day of sales through late September, about a week prior to the full year of adult sales.

“It exceeded our expectations. We are very pleased with the way the past 12 months have gone,” said Erik Gundersen, director of the Office of Marijuana Policy in Maine.

Sales grew steadily in the first year, reaching record eleven consecutive months from October to August. September was the first month in which sales of the previous month were not exceeded.

“This is proof that this has been a huge success and people are happy about it,” said Jim Henry, CEO of cannabis company Sweet Dirt.

Sweet Dirt ran a medical cannabis program for a number of years before the adult use program launched and opened its first recreational store in Portland in December.

Henry said that during that time they have grown from a business with 20 employees to a company with more than 100 employees between cultivation, manufacturing and retail locations.

“It’s really becoming a normalized solution for people. People understand that it’s not the boogie man and they are absolutely excited to be part of it,” said Henry.

This normalization is key to the continued success of legal cannabis in Maine, Henry said. Ideally, he would like to see the cannabis products made in Maine reach the same level of international recognition as other local favors like craft beer or blueberries.

He points to innovative new product areas, such as the burgeoning cannabis beverage industry, as one more area for the growth of Maine’s burgeoning cannabis economy.

According to state data, there are 57 active store licenses across the state. 174 license applications are currently going through the review process.