DENVER – The Colorado marijuana industry has now resulted in more than $1 billion in revenue for the state, the Colorado Department of Revenue announced Wednesday.
Revenue from marijuana taxes, licenses and fees hit just over $1.02 billion, according to the latest monthly report from the department of revenue. Marijuana sales have hit a total of $6.56 billion, an average of more than $1 billion per year since marijuana sales began in 2014.
Colorado has 2,917 licensed marijuana businesses and 41,076 people who are licensed to work in the industry.
Marijuana tax revenue – which goes toward an array of state services, including educational programs and health and human services – has grown each year since 2014, when about $67 million was collected. That number jumped to $130 million in 2015, $193 million in 2016, $247 million in 2017 and $266 million last year.
This year, through May, the marijuana revenue is at more than $111 million.
