Cannabis Briefs for December 1, 2020
December 1, 2020•Maine’s adult-use cannabis market generated $1.4 million in its first month of business, according to data from the state’s Office of Marijuana Policy. The state’s recreational shops went live October 9 when a handful of outlets opened their doors, rising to nine total locations by early November. The state logged approximately 20,000 transactions during its first 31 days, with the vast majority of dollars going toward flower, which accounted for just over $1 million of the total. Concentrates generated $268,000 and infused products sold $73,000 worth of inventory.
•Multi-state operator Jushi Holdings announced plans nearly to double the square footage of its cultivation and processing facility in Scranton, Pennsylvania. The phased expansion would increase the facility from 90,000 square feet to more than 160,000, with the first part of the expansion due in mid-2021 and the final phase due by the second quarter of 2022. It will represent an investment of approximately $50 million into operations in the Keystone State as its importance in the U.S. cannabis market continues to grow.. The majority of the new space will bolster cultivation operations, ultimately tripling canopy space to 98,000 square feet. The facility will supply Jushi’s eight Beyond/Hello retail dispensaries in Pennsylvania, as well as other stores.
•The Detroit city council approved a recreational cannabis ordinance last week, nearly a year after sales began in the state. While the delay has been a source of frustration for many involved, the final ordinance contains several highlights. In addition to a robust social equity program that will provide longtime residents the ability to purchase city-owned property at 25% of its market value for a dispensary, the ordinance also allows for on-site consumption licensing. The city estimates that cannabis sales will generate between $7-$8 million in local tax revenue.
•California cannabis czar Lori Ajax is stepping down after nearly five years in the role. She was appointed in February 2016 to lead California’s Bureau of Medical Marijuana Regulation but stayed on after recreational cannabis was legalized and the agency’s role grew to oversee the entire regime; it was at this time it was renamed to its current title of Bureau of Cannabis Control. As the person who most directly oversaw the implementation of recreational sales in 2018, she ranks as a definitive player in establishing California as the largest and most lucrative cannabis market worldwide.
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