Connecticut Cannabis sales off to a modest start but growing
Dan Haar: Early CT cannabis numbers show no great haul for state coffers.
We're only two months into retail sales of cannabis to folks without a medical condition so it's way too soon to exhale any conclusions about how much tax money this new market will generate for the state.
Still, the early returns -- about $300,000 per week in state sales tax revenue -- tell us a lot will have to happen before we see any ganja gold rush. It's going to be a long time before the direct sales tax revenues from this new industry pay for all state costs.
"The Krispy Kreme moment that everyone thought the state was going to have...it’s a little bit behind our projections," said Ray Pantalena Jr., managing partner at Affinity Dispensary in New Haven. "Expectations were set a bit high."
Expectations by the state, that is, for revenues.
That pretty much echoes what I heard from Ben Zachs, chief operating officer at Fine Fettle, with hybrid medical-adult use stores in Newington, Willimantic and Stamford and the state's first pure recreational, social equity retailer in Manchester.
For more Cannabis News like this, circle back to 420intel.com!
420 Intel News | 420 Advertising | Cannabis Business News | Medical Marijuana News | Recreational Marijuana News