Business & Investment

Illinois sells cannabis in 2020 at a pace of over $ 1 billion

Despite the major challenges of 2020, Illinois’ cannabis business is expected to grow sales Over $ 1 billion in total 1 year.

And 2020 was just the first year of operation of the state’s legitimate entertainment cannabis program.

According to the Chicago Tribune, the total sales of 80 adult and medical marijuana retailers in the state exceed $ 1 billion and there is room for expansion in 2021.

According to state data, Illinois recorded total sales of approximately $ 106 million for both recreational and medical marijuana in November, for a total of 11 months in the 2020 market totaling 913,300. Over $ 10,000.

The future of the Illinois cannabis industry is even brighter in 2021. The reason is as follows.

  • More municipalities will approve marijuana stores this year.
  • Thirty retailers will open from the first round of licenses.
  • State to 75 new adult license applicants Start overAnd as the lottery goes on, the market expands exponentially.

However, for that license round Questions posed About the state’s social justice clause, which was once declared a model for the industry.

The state currently has 21 licensed marijuana cultivators and 40 craft cultivation permits have not yet been granted.

Illinois sells cannabis in 2020 at a pace of over $ 1 billion

https://mjbizdaily.com/illinois-on-pace-to-surpass-1-billion-in-cannabis-sales-for-2020/ Illinois sells cannabis in 2020 at a pace of over $ 1 billion

Back to top button