ALBUQUERQUE, N.M. (KRQE) – After one month of recreational cannabis sales in New Mexico, retailers sold $22.1 million in April according to new data released by the Cannabis Control Division (CCD.) Albuquerque had the most sales, totaling just over $8 million in recreational cannabis sales that month.
Las Cruces came in second place, selling $2.06 million. Santa Fe sold a bit over $1.8 million worth of recreational cannabis in April. Sales began on April 1, 2022.
Some smaller towns cashed in as well. Madrid, for example, sold over $40,000 worth of recreational cannabis. Retailers in Cedar Crest sold more than $56,000 worth.
The CCD also reports that sales in communities near the Texas border were strong. Hobbs and Sunland Park each sold more than $1 million worth of recreational cannabis, earning those cities a spot in the top-five New Mexico cities in terms of sales.
“The new industry is projected to generate $300 million annually in sales, create 11,000 jobs and bring in $50 million in state revenue in the first year alone,” according to the CCD.
To reach the state’s annual $300 million goal, retailers need to sell an average of $25 million worth of recreational cannabis each month. The state didn’t quite reach that $25 million sales figure in April. But more would-be retailers are still likely to join the industry in the coming months as their applications are processed.
