Colorado's marijuana industry faces economic threats from other states

Challenges facing Colorado's pot industry
Posted at 9:17 PM, Sep 29, 2016
and last updated 2016-09-30 00:26:38-04

DENVER  --  At Starbuds on Evans Avenue in Denver and at dispensaries across the state, pot sales are strong.  July transactions set a record.  But a force outside of Colorado could wilt the success.

Voters in Maine, Massachusetts, Nevada, Arizona and California could all give the green light for recreational sales this November, extinguishing the novelty here at home.

At Starbuds, about 20 percent of customers are from outside of Colorado. But a 2014 state study reveals that in some tourist-rich counties, out-of-staters account for about 90 percent of sales.

"The more states that legalize it, the more potential it has to dilute the impact that Colorado has nationwide and around the world," said Jim McTurnan, of Starbuds.

There's a sweet side to this story too. Pot-related businesses, including Love’s Oven, see this movement as a potential opportunity to expand beyond Colorado.

 "We definitely actually see expansion into other states as a good thing," said owner Joshua Nettles. "We're definitely looking at expanding into other states and helping them out either with their industry or moving our industry into their state," he said.

"That knowledge base that they have is going to translate opportunity to other places too," said McTurnan.


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