As the already infamous year 2020 comes to an end, and while many industries struggle with the ramifications of Covid-19, it has become clear that one of the sectors still experiencing steady growth is legal cannabis. The fact that cannabis dispensaries have been deemed as essential businesses has only bolstered this growth. Massachusetts is a prime example of a state that has seen incredible figures ever since it voted to legalize recreational marijuana in 2016.
Our team at Lazy River Products is excited for 2021 and beyond. But, before we can look forward we must first look back at some more notable happenings of this monumental year in Massachusetts cannabis history.
C3 Industries Expansion into Mass
As testament to the thriving legal cannabis industry in Massachusetts, the cannabis company C3 Industries has just ensured its expansion within the state and many others. The Michigan-based company recently managed to raise $45 million to support its plans — which include a 37,000 square-foot cultivation and production facility along with two additional retail locations.
Massachusetts Cannabis Delivery Program Experiences Delays
In somewhat frustrating news, the long-awaited recreational cannabis delivery program in the state of Massachusetts will have to wait at least a short while longer. That’s because the final vote that was scheduled for the end of October 2020 has been pushed to November 30th in order to give people more time to express their thoughts on the proposed delivery plans. While home delivery of medical cannabis has been allowed for some time, the CCC (Cannabis Control Commission) has been working on the recreational side of things for nearly three years. Still, any action that gets regulators involved with working with consumers is a positive thing — no matter what the timeframe.
Mass: More Than $1 Billion in Cannabis Sales!
Our last piece of major cannabis news out of the Bay State is perhaps the biggest “eye-opener” of all. Over the last two years, Massachusetts has clocked the staggering amount of over $1 billion in cannabis sales. While this figure won’t be surprising to some, it’s worth comparing it to that of Colorado which only brought in $880 million in its first two years. With sales come taxes, and the nearly $200 million in tax revenue from legal cannabis sales will surely go a long way to benefit communities across the state.
Our team at Lazy River Products is excited for the future of our brand, and for the future of legal cannabis and hemp in the great state of Massachusetts. Keep following our blog for more news about our location and our products and partners.
We Hope Everyone is Staying Safe & Healthy This Holiday Season!