New Mexico

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Mon
25
Apr

Cannabis grower shares tips on how to obtain cannabis business license

girls meeting table

Before recreational cannabis was legal, there were only 35 licensed marijuana retailers across New Mexico.

According to the state's cannabis control division, that number now stands at 125.

With the state of New Mexico not limiting the number of retailers who can open up cannabis dispensaries, there's an influx of people applying for and obtaining cannabis business licenses.

The state's Cannabis Control Division has an online map that shows where people have applied for their cannabis business licenses and how far along they are in the process.

Chad Lozano is the lead grower with Gnarly Farmers.

Lozano said the first step in the application process is figuring out what license you want to apply for.

Tue
12
Apr

Private businesses may not benefit much from the new recreational cannabis industry

marijuana

 

Recreational marijuana is said to bring in millions of revenue for the state, but that does not mean every business will benefit from the new industry.

According to the state of New Mexico, the industry will bring in $50 million in state revenue.

State leaders say that it will be used for state programs such as housing, food insecurity, and economic development.

A local economics professor at New Mexico State University says that the private economy such as restaurants and movie theaters may not see a big boost.

"The reason for that is that marijuana is a recreational drug, people buy it for recreational purposes. That recreational usage means that they're not engaging in some sort of other recreational activity," said Erickson. "

Fri
08
Apr

Forian BioTrack launches New Mexico traceability software for adult use cannabis

software designer

Bio-Tech Medical Software, Inc. subsidiary of Forian Inc. (NASDAQ: FORA), successfully completed the launch of its New Mexico state traceability system for adult-use cannabis sales. This latest state partnership demonstrates the continued expansion of Forian’s BioTrack state traceability system.

BioTrack has been the traceability system for New Mexico medical cannabis sales since 2015, and in 2021 expanded to also be the state’s partner for adult use compliance monitoring. The successful seamless transition of the traceability system from medical to dual-use enabled businesses to begin commercializing adult-use cannabis sales at 12:00 a.m. on April 1 with no disruption to retailers or consumers.

Tue
05
Apr

New Mexico recreational pot sales surpass $3 million in opening weekend

cannabis cash

The cannabis business is booming in New Mexico, also known as the Land of Enchantment, with adult-use sales reaching $3,092,712 in the first weekend.

Three days and millions of dollars later, the New Mexico adult-use cannabis industry is off to a roaring start.

Local television station KOAT reports that, as of noon on Sunday, recreational pot sales in the state had eclipsed $3 million.

The station, citing state officials, said that 49,552 transactions for recreational cannabis transactions had been recorded at that time, which totaled $3,092,712.

Sales officially kicked off after midnight on Friday, when hundreds of eager customers lined up outside the dispensaries in anticipation of the historic opening.

Thu
31
Mar

How much money will marijuana sales bring to New Mexico?

desert

 

In two short days, dispensaries across Las Cruces and Doña Ana County will make history as recreational marijuana sales start in New Mexico.

The tax revenue from marijuana will certainly diversify New Mexico's economy but by how much?

"We will be better positioned than other states to capture the market," said Kelly O'Donnell, a northern New Mexico economist who studies the financial impact of social policy.

"Once there is legalization at the federal level, we'll be in a position to export cannabis."

Fri
25
Mar

Meet Rosie: The robot ensuring adequate cannabis supply as recreational sales start April 1

robot

We're continuing to look ahead to next week, as recreational cannabis sales will begin April 1 in New Mexico for those 21 and older, by checking in with local dispensaries.

Dispensaries are training workers, ramping up supply and have even invested in automation to ensure they have enough supply. 

"The biggest thing in cannabis is just making sure you have enough supply both to meet the demand of the current medical cannabis community and also as we welcome adults over 21 into our stores," said Trishelle Kirk, of Everest Cannabis Co. 

Last year, as Everest Cannabis Co. was preparing to supply a much bigger market, they invested in some automation equipment. 

Fri
04
Mar

What's required to start a recreational cannabis business in New Mexico?

cannabis plants

 

Retail recreational cannabis businesses can open as early as April 1 in New Mexico. However, there are a host of challenges and steps for business owners to consider before opening a recreational dispensary.  This includes zoning laws, application and permit fees, a security plan and more which may vary on a state and local level. Rules and laws around cannabis may also evolve as time goes on.

 

Getting started

Although it’s legal for recreational and medicinal use in New Mexico, cannabis is still a Schedule 1 drug at the federal level. 

Wed
23
Feb

Proposed changes to New Mexico cannabis rules before start of recreational sales spark criticism

cannabis store

With less than a month and a half to go before sales of recreational marijuana are scheduled to begin in New Mexico, the state agency charged with standing up the burgeoning industry is proposing new regulations and tweaks to others.

The proposed changes to existing rules just before the start of retail sales sparked some criticism of the Cannabis Control Division during a public hearing Tuesday.

“There’s constant moving targets in this program, and we have not even begun,” said Erica Rowland, who is working to open a “cannabis country club” in Albuquerque’s North Valley.

“How is one to focus on requirements and plan to succeed when costly and timely paperwork requirements are constantly changing or being eliminated?”

Fri
21
Jan

Gov. Lujan Grisham gives OK for legislature to make some cannabis law changes

gavel

In addition to high-profile efforts to improve public safety and education, Gov. Michelle Lujan Grisham has called on lawmakers to address cannabis during the 30-day legislative session.  Lujan Grisham issued a message on Thursday afternoon, authorizing lawmakers to add changes to the Cannabis Regulation Act to the legislative agenda.  The governor’s message pertains to SB 100, which is sponsored by state Sen. Linda Lopez, D-Albuquerque.

Tue
18
Jan

Rule change doubles number of cannabis plants for growers

cannabis

An emergency state-level rule change doubled the number of cannabis plants that licensed growers can cultivate at one time, but some in the industry are concerned that the change is too little, too late to meet demand for the start of recreational sales in April.

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