Hawaii’s
new medical marijuana dispensaries are in for big business, between $15 million
and $20 million in revenues in their first year, according to a recent report
from the Hawaii Dispensary Alliance.
The group
based its projections on the number of registered patients in Hawaii and
pricing statistics from the Marijuana Business Factbook. At the end of May,
there were 14,074 registered patients in the state, according to the Department
of Health.
This is a
significant increase from January 2015, when there were 11,402 registered
patients. The jump is due in large part to the DOH awarding the first medical
marijuana dispensary licenses.
The
report suggested if the growth continues, the state’s dispensaries could make
up to $145 million in 2018. However, the group anticipates a more likely
revenue estimate of $80.6 million that year.
The
report also considered the revenue from the medical marijuana tourism market.
If Hawaii was to allow medical marijuana tourism, then visitors to the state
would provide between $1.3 million and $58 million in additional revenue.
The
dispensaries will not be the sole beneficiaries of the new market, the report
concluded. “For every $1 spent in dispensaries, states with established medical
marijuana industries report that $3 of additional economic value is injected
into the economy at the local level,” it said.
Kathleen
Gallagher
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