“Business has continued to grow every year,” stated Radding.
In 2020, La Plata County Colorado noticed greater than $40 million in marijuana gross sales. An enormous chunk of these gross sales comes from guests.
“We get a lot of people from out of state. People from all over the country,” stated Radding. “We obviously get a lot of people coming from New Mexico. We’re really close to the border.”
However, the border market mannequin is about to be put to the take a look at when the Land of Enchantment goes inexperienced for leisure cannabis.
“There’ll definitely be some impact. How big it will, be I’m not sure,” stated Radding.
One potential downside for Colorado cannabis: the fee. When New Mexico gross sales start subsequent 12 months, they will begin out with decrease taxes.
“I think it could have an impact if the sales in one state are a lot cheaper than in another state and then it doesn’t make sense for people to you know cross state lines in order to go purchase products that are going to be more expensive,” stated Radding.
While it’ll stay unlawful to cross state strains with any quantity of marijuana, Radding insists his enterprise doesn’t monitor what occurs when folks go away their services.
However, Colorado nonetheless has time earlier than it feels the complete impact of New Mexico’s legalization of marijuana.
“There’s a lot of preparation that has to be done,” stated Linda Trujillo, superintendent for New Mexico’s Regulation and Licensing Department, which is the company that can oversee the state’s authorized marijuana market.
While possession of marijuana will probably be authorized starting June 29, Trujillo factors out that there’s a catch: “So you can possess but you can’t buy it anywhere.”
There continues to be months of regulatory work that must be hashed out earlier than the primary authorized gross sales can happen, with a goal date of April 1, 2022.
“We’ll do our best to move that date as far forward as we can but at this point there’s so many different moving pieces that I can’t give any kind of an estimate,” stated Trujillo.
While some cannabis enterprise house owners in Colorado have expressed issues over New Mexico’s legalization and the way a lot enterprise it may cost a little them, Jonny Radding of Durango Organics sees it in a different way.
“I don’t think it’s going to make it tougher for shops in Colorado. I think it’s going to help the industry grow altogether,” stated Radding.
Radding has already expanded his firm’s footprint within the area and now he is contemplating opening up new retailers on the opposite facet of the state border.
“We would love to be part of the New Mexico market,” stated Radding.