Maryland celebrates new billion dollar marijuana industry

Record-Breaking Cannabis Sales in Maryland Surpass $1.1 Billion in First Year

ANNAPOLIS, MD – Governor Wes Moore revealed today that Maryland’s medical and adult-use cannabis sales have exceeded $1.1 billion in their inaugural year post-legalization. The Maryland Cannabis Administration reports that June saw retail sales top $95 million, with adult-use cannabis contributing over $67 million. Since the introduction of legal adult-use cannabis on July 1, the state has seen adult-use sales surpass $700 million, while medical sales neared $400 million.

Governor Moore highlighted the significant economic impact and societal benefits of the burgeoning cannabis market. He stated, “Our new adult-use cannabis market isn’t only generating extraordinary economic activity – it’s also helping us build new pathways to work, wages, and wealth for all.” He emphasized the administration’s commitment to leveraging this growth for competitive and equitable economic advancement.

The Maryland Cannabis Administration has partnered with various state departments to bolster community and social equity initiatives within the industry. Highlights from the first year include the implementation of the nation’s first cannabis business licensing round reserved for social equity applicants, with over 50% of selected applicants being majority black or African American owned.

Additional achievements include the creation of the first state cannabis reference laboratory, the collection of over $40 million in fees to aid community initiatives through the Community Reinvestment and Repair Fund, and the establishment of a Cannabis Workforce Development Program in collaboration with the Maryland Department of Labor.

The state has also launched public health campaigns such as “BeCannabisSmart” to promote responsible cannabis use and introduced a “Medical and Adult-Use Data Dashboard” for public access to industry metrics. The administration has expanded its staff from 50 to over 100 to accommodate the growing industry.

Will Tilburg, Director of the Maryland Cannabis Administration, expressed enthusiasm about the future, noting the innovation that new social equity businesses are expected to bring. Audrey Johnson, Executive Director of the Office of Social Equity, also commended the efforts towards creating a more inclusive industry, emphasizing the community’s support for reinvesting cannabis tax revenues into areas adversely affected by past drug policies.

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