GRANTS, N.M. – The month of May has brought more encouraging news for Cibola County's burgeoning cannabis industry. The latest data highlights continued growth in both medical and adult-use marijuana sales, reflecting broader statewide trends.
In Cibola County, both the City of Grants and the Village of Milan have shown strong sales figures for May 2024, contributing significantly to the county's overall cannabis revenue.
While the City of Grants remains king of cannabis in Cibola, the Village of Milan has been slowly creeping up on the city’s sales. In April, the Village of Milan’s adult use recreational sales almost equaled the city’s adult use sales. In May, Milan’s adult use sales eclipsed the city’s medical sales for the first time.
Cannabis sales in New Mexico are subject to a 12 percent excise tax on adultuse recreational marijuana and a gross receipts tax (GRT) on medical marijuana, which is typically around five percent. The revenue generated from these taxes is distributed to local governments, with municipalities receiving 33.33 percent of the total tax collected. This local share provides a significant financial boost to communities, funding various public services and infrastructure projects, thus directly benefiting residents and enhancing the quality of life in areas like Grants and Milan.
City of Grants
Grants remains Cibola’s leader in Cibola's cannabis market. Holding the largest concentration of dispensaries and people across the county, Grants serves a number of both local and travelling customers.
For the month of May, adult-use recreational sales totaled $142,512.56, while medical marijuana sales reached $68,449.81.
These figures contribute to the city's cumulative totals since legalization, with Grants reporting $2,906,542.52 in medical sales from 62,614 transactions and $4,171,233.35 in adult-use sales from 111,716 transactions.
Overall, Grants has achieved total sales of $7,077,775.87 from 166,232 transactions. The Grants City Council has previously earmarked tax money made from sales of cannabis to the Grants Recreation Center, previously known as Future Foundations.
Economic Impact
Grants’ Total Medical Tax Collected: $145,327.13 Grants’ Total Adult-Use Tax: $500,548.00 Grant’s Total Tax: $145,327.13 + $500,548.00 = $645,875.13 Grants’ Municipal Share: $645,875.13 * 0.3333 = $215,273.68 Village of Milan
The Village of Milan continues to see growth in its cannabis market as well.
In May 2024, Milan recorded $85,550.10 in adultuse recreational sales and $21,781.48 in medical marijuana sales. May was the best month on record for Milan’s adult use recreational sales, and the first time the village’s adult use sales eclipsed the City of Grants’ medical sales.
Cumulatively, Milan has reported $105,235.11 in medical sales from 3,208 transactions and $396,312.66 in adult-use sales from 12,411 transactions.
This brings Milan's total cannabis sales to $501,547.77 from 15,619 transactions since the legalization. Every single month since their first dispensary opened in September, the village has broken their own record for cannabis sales.
The village has not earmarked cannabis tax funds for any particular project, with the money falling into the village’s general fund.
Economic Impact
Milan’s Total Medical Tax: $5,261.76 Milan’s Total Adult-Use Tax: $47,557.52 Milan’s Total Tax: $5,261.76 + $47,557.52 = $52,819.27 Milan’s Municipal Share: $52,819.27 * 0.3333 = $17,604.66
Statewide Overview
Statewide, May 2024 saw significant activity in the cannabis market.
Medical marijuana sales reached $12,518,345.66 with 253,736 transactions, while adult-use sales hit $38,682,534.61 across 958,361 transactions. This brings the total sales for the month to an impressive $51,200,880.26 from 1,212,097 transactions.
As of May 2024, New Mexico boasts 1,007 dispensaries across its 33 counties, underlining the expansive reach of the cannabis industry.
Since the legalization of recreational cannabis, New Mexico's cumulative sales have soared. Medical sales now total $370,041,029.03 from 7,280,082 transactions, while adult-use sales have amassed $794,897,514.10 from 18,504,282 transactions.
Combined, the state has seen $1,164,938,535.16 in cannabis sales from 24,924,614 transactions.
Cannabis sales in Cibola County, specifically in Grants and Milan, have shown significant growth from January to May 2024, contributing substantially to local tax revenues. With a total of over $7 million in sales, the industry's success highlights its positive impact on the local economy and public services.
Safe Cannabis Consumption Reminder for Spring
As the weather warms up, the New Mexico Cannabis Control Division (CCD) is reminding consumers to adhere to state laws and practice safe consumption habits during springtime events.
Todd Stevens, the Cannabis Control Division Director, emphasized the importance of following the law, noting that consuming cannabis in public spaces such as festivals, expos, and even at dispensaries without an official consumption lounge license is illegal.
“Springtime is when we start seeing more outdoor events and an uptick in public consumption,” said Todd Stevens, Cannabis Control Division Director. “We want to remind the public and our licensees that it is illegal to consume cannabis in public spaces like festivals, expos, and even at a licensed dispensary that doesn’t have an official consumption lounge license.”
Cannabis should be consumed responsibly and in appropriate settings, such as at home or in a licensed consumption lounge. The CCD has issued several safety tips to help ensure responsible use: only purchase from CCD-licensed dispensaries, avoid driving under the influence, know your tolerance, and keep cannabis products away from children and pets. Stevens also highlighted the role of the CCD’s compliance team in inspecting businesses to ensure adherence to the law, protecting public health and safety. For more information on safe and responsible cannabis use, consumers can visit YesandKnowsNM.com or file a complaint against noncompliant businesses at rld.nm.gov/cannabis/reporta- violation.
“Our compliance team will be out inspecting businesses closely to ensure our licensees are following the law and doing what’s required to protect the public,” said Stevens.
The New Mexico Regulation and Licensing Department, which houses the CCD, oversees more than 450,000 individuals and businesses across various industries. Its mission is to ensure quality services and fair administrative processes, benefiting all New Mexicans. For more details, visit rld.nm.gov.