State Cannabis Sales Hit $19 Million in 12 Days
The Illinois Department of Financial and Professional Regulation has announced that statewide adult-use cannabis sales from Wednesday, Jan. 1, through Sunday, Jan. 12, totaled $19,709,35.10.
Dispensaries across the state rendered 495,385 transactions over the 12-day period.
Sales are beginning to level off after an “opening day” sales total exceeding $3 million, but sales have topped at least $1 million every day except Monday, Jan. 6, and Sunday, Jan. 12, 2020.
|
SALES |
TRANSACTIONS |
|
|
Jan. 1 |
$3,176,256.71 |
77,128 |
|
Jan. 2 |
$2,252,586.51 |
56,762 |
|
Jan. 3 |
$2,209,065.01 |
55,161 |
|
Jan. 4 |
$2,004,019.43 |
51,174 |
|
Jan. 5 |
$1,189,252.18 |
30,954 |
|
Jan. 6 |
$796,005.71 |
20,303 |
|
Jan. 7 |
$1,251,626.91 |
31,560 |
|
Jan. 8 |
$1,314,924.17 |
33,270 |
|
Jan. 9 |
$1,334,605.13 |
33,683 |
|
Jan. 10 |
$1,689,682.73 |
42822 |
|
Jan. 11 |
$1,617,198.64 |
41,033 |
|
Jan. 12 |
$874,121.97 |
21535 |
|
TOTAL |
$19,709,35.10 |
495,385 |
The sale of cannabis has not been without issues, however, since the state legalized adult use on Jan. 1.
According to the Sun-Times, the state has warned some pot shops that violated the law against stockpiling weed.
WLS-TV reports that weed-related emergency room visits are up after legalization in Illinois.
During the first few days of the new year, the North Aurora Police Department was advising drivers to avoid the area of IL Route 31, the site of one of Kane County’s few dispensaries.
Restore, Reinvest and Renew
As part of the state’s focus on equity, 25 percent of cannabis sales tax revenues will support the Restore, Reinvest and Renew (R3) program, which aims to address the impact of economic disinvestment, violence and the historical overuse of the criminal justice system.
The Department of Revenue expects to have a tax revenue estimate by the end of February, when initial tax payments from dispensaries are due.
“Illinois had a far more successful launch of cannabis than many of the other states that have legalized, but this is about more than money, it’s about starting a new industry in a way that includes communities left behind for far too long,” said Toi Hutchinson, senior advisor for Cannabis Control.
On Tuesday, Jan. 7, the Illinois Department of Agriculture opened the application process for Cannabis Infuser, Transporter and Craft Grower licenses, including social equity applicants.
The applications are available on the department’s website here. IDOA will begin accepting completed applications on Friday, Feb.14 and all Cannabis Infuser, Transporter and Craft Grower applications must be submitted by 5 p.m. CST on Monday, March 16, 2020.
Licenses will be awarded to applicants by July 1, 2020.
Social equity applicants will receive additional points on their application and will have access to technical assistance, grants, informational workshops, low-interest loans and fee reductions and waivers. Additional information about the timing and location of workshops will be available in the coming weeks.
SOURCE: state of Illinois, local media
Read More
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- What Are The Rules About Marijuana Use in Kane County, IL?
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