WASHINGTON STATE — For the first time since recreational marijuana was legalized in 2012, sales dipped over the entire fiscal year.
According to numbers from the Washington State Liquor and Cannabis Board, total cannabis income from the 2022 fiscal year showed an 8% decline over 2021, translating to a drop of $44 million.
In total, $515 million came from the sale of cannabis in 2022, compared to $559 million in 2021.
The board added that 2022’s sales were still higher than any other year except for 2021.
Cannabis industry analysts said the drop in revenue is noteworthy because statewide cannabis sales had increased for at least seven consecutive years prior to 2022.
In the aftermath of the latest sales numbers, KOMO News investigated if the drop in revenue was tied to an increase in violence against cannabis retailers.
Between January and April, there were 77 pot store robberies in Washington state, according to the Cannabis Professionals Network. Cannabis industry researchers said 90% of robbery cases involved a gun.
As a result, industry experts like Josh Estes said some shop owners became so scared, they stopped operating altogether.
“Do you think some of these people moved out because of this?” KOMO News asked. “It’s potentially one of the elements or played a part in their reasoning,” said Estes. “It’s difficult when you run a business and you have to worry about whether you’re gonna be robbed on a daily basis.”
Despite the spike in violence, representatives from the Washington State Liquor and Cannabis Board said there was no evidence that tied the drop in sales to a rise in crime, adding that 2021’s revenue was abnormally high because of the continued impacts of the pandemic, including stay-at-home restrictions for people across the state.
The board noted that Washington currently has the highest excise taxes in the entire country. With a 37% taxation rate, representatives said some retailers had chosen to move out of Washington, causing sales to drop.
H/T: katu.com
