In its first 25 days of business, Ohio made $44,051,671 in gross revenue. That’s pretty good! This is compared to $24 million brought in in New Jersey (although they only had 12 dispensaries open at the time) and $40 million for Illinois back in 2020. Ohio had 98 dispensaries open at the start of legalization, and this wasn’t even a full month of revenue.
This is very good news for marijuana business in Ohio, and the expansion keeps coming. To date, there are now 123 pot shops open in the state, with 121 additional licenses being approved and ready to sell.
As to where the money goes, 36% of the tax revenue will funnel to the Host Community Cannabis Fund, and another 25% to the Substance Abuse and Addiction Fund. The rest goes towards the Cannabis Social Equity and Jobs Program.
It’ll be interesting to see how gross sales grows this month with more dispensaries open and a full month of sales on the calendar. Hopefully this is only the start for small businesses in the state of Ohio.
Read the original story at MedicateOH.
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