A Public Service of Santa Fe Community College
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Cannabis a Billion-Dollar Industry in New Mexico

Cannabis cultivated in New Mexico
S. Baxter Clinton
Cannabis cultivated in New Mexico

On March 5th, Governor Michelle Lujan Grisham made an announcement that cannabis sales in the state of New Mexico have hit a milestone, breaking $1 billion dollars in sales since adult use legalization.

This generated $75 Million dollars in excise tax that is going to the state General Fund and local communities.

These numbers are coming in a month prior to the second anniversary of legal adult use cannabis sales.

Cannabis users have made more than 21 million transactions and purchased over $670 million of adult-use cannabis and over $330 million in medical products since April 1st 2022.

Gov. Lujan Grisham said “ This is a huge milestone for New Mexico's cannabis industry. Nearly two years after beginning sales, New Mexico is on the map as a premier hub for legal and safe cannabis and the thriving business community that comes with it.”

Albuquerque has the highest cannabis sales with over $200 million in adult-use products being sold since legalization.

Smaller communities are also benefiting from legal cannabis sales; Las Vegas, Silver City and Deming have seen more than $5 million in adult-use cannabis sales.

Sunland Park has been able to foster cannabis tourism and recorded $57 Million in adult-use sales.

As of March 1, 2024, New Mexico has issued nearly 3000 cannabis licenses across the state, with over 1000 retailers.

Shantar Baxter Clinton is the hourly News Reporter for KSFR. He’s earned an Associates of the Arts from Bard College at Simons Rock and a Bachelors in journalism with a minor in anthropology from the University of Maine.