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Medical, adult-use cannabis sales in Maryland top $1 billion in 1 year

Posted at 11:17 PM, Jul 05, 2024

COCKEYSVILLE, Md. — Decked in Fourth of July garb, Dr. Alexander Dix is the clinical director for KIP Dispensary off York Road in Cockeysville.

"So, this has been a very busy week for us. I think people preparing for the holiday, and realizing we were open on the holiday while a lot of dispensaries were not," Dr. Dix said.

An operation of about 30 people split between the front and back of the house.

One year ago this July, they began selling adult-use cannabis.

"It's been amazing. It's been really great in a lot of different ways. It kind of put pressure on our team to step up and perform and it's really wonderful to actually see that happen. It's also been awesome to see so many smiling faces come through the door," said Dr. Dix.

Green makes a lot of green, and now er have the numbers to prove it.

In the year since cannabis became legal for Marylanders 21 and up: $700 million in adult-use cannabis sales, medical, about $400 million.

Dix sees it continuing here.

"I do expect sales to continue in that upward trajectory. One of the things we did see change recently since a year ago is recreational users can now purchase concentrates - one gram containers. So, that's one thing that we see change," Dr. Dix added.

According to the state, Here's how the tax revenue is broken down:

Half to the state's general fund, 35% to the state's community reinvestment and repair fund, benefiting low-income communities hurt by cannabis prohibition.

Focused on the plant's medical properties - Dix is teaching pharmacy students.

"I have been working with Notre Dame of Maryland University, taking some of their 4th-year pharmacy students for the past year now. And it's been really awesome to try to bring the cannabis education into the medical education and to really see the enthusiasm and interest in these up and coming professionals," Dr. Dix said.

As the profit grows, Dix hopes interest in cannabis itself grows too.