COLORADO SPRINGS, Colo. (KKTV) – Recreational marijuana sales are set to begin tomorrow in Colorado Springs after voters approved the change last November.
The city is joining the rest of Colorado in transitioning from strictly medical marijuana sales to opening up the market for adult-use cannabis. At the time of writing this article, the city has now issued licenses to 25 dispensaries, with an additional five pending approval, allowing the market to expand rapidly.
According to state data, marijuana sales across Colorado have generated nearly $2.5 billion in tax revenue since 2014. City officials in Colorado Springs estimate that retail sales alone could bring in up to $2 million in new tax revenue during the first year. The 5% sales tax collected from these sales will fund a range of community programs, including homeless outreach and public safety initiatives, promising significant benefits for local residents.
Neighboring communities have already reaped the rewards of recreational marijuana. For instance, while the City of Manitou Springs, home to only two licensed dispensaries, is legally unable to disclose specific sales tax figures due to state law, officials there note that tax revenues from cannabis are included under broader sales tax categories.
In addition, smaller towns such as Palmer Lake have witnessed noticeable economic gains from marijuana tax collections that support local services such as police upgrades, parks, and community events.
At Epic Remedy, one of the first approved retail shops on East Fountain Boulevard, Operations Manager Dustin Taylor explained the operational benefits of the new system.
In his words, “We expect to see a higher volume of people coming in. There’s less steps to be able to come in now you just have to be 21 or over with a valid ID and you can come in and shop.”
Dustin Taylor’s remarks underscore the anticipated increase in customer traffic that could contribute significantly to the local economy. With dispensaries actively prepping their shelves, training staff, and upgrading product databases, Colorado Springs is poised for a considerable economic boost, potentially paving the way for further investments in community services. As the city launches this new retail era, public officials and local business owners alike remain optimistic that the increased revenue will foster positive improvements in public safety and mental health services.
As recreational marijuana sales go live tomorrow, Colorado Springs will be closely watched as an emerging market. With state sales figures available via the Colorado Department of Revenue’s marijuana data reports, residents and investors can track the progress of this new industry and its impact on the local economy.
For continuing updates on the rollout and its economic effect, stay tuned to KKTV 11 News.
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According to state data, marijuana sales across Colorado have generated nearly $2.5 billion in tax revenue since 2014. Read More
