Maryland saw more than $1.1 billion in medical and adult-use marijuana sales in its first year of legalization, Gov. Wes Moore announced Wednesday.
There was more than $700 million in adult-use sales and nearly $400 million in medical sales since the state's law took effect last July – creating a windfall of funds that will help undo the harm caused by the war on drugs, according to the news release.
The announcement came less than a week after Moore touted a first-of-its-kind workforce development program to help those convicted of marijuana offenses get jobs in the industry.
"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," Moore said in a statement. "Making Maryland more competitive means ensuring that everyone can reap the benefits of Maryland’s economic growth. This important milestone proves how our administration continually – and repeatedly – honors our deep commitment to that mission."
The Democrat cited numerous accomplishments since the state legalized marijuana and created the Maryland Cannabis Administration as a regulatory agency, including the inception of a cannabis licensing program dedicated to minority business owners.
The move doubled the number of licensed marijuana businesses in the state in its first round of applications. Of the 205 businesses selected, 53.7% were majority-Black owned and 76.2% were majority-minority owned.
In addition, the state collected more than $40 million in fees to support its Community Reinvestment and Repair Fund, which provides funding to local jurisdictions to support low-income communities and those disproportionately impacted by marijuana criminalization.
The state obtained more than 1,250 responses on the potential use of the reinvestment fund, 74% of which strongly supported using tax revenue to benefit the communities hardest hit by the war on drugs.
Maryland voters approved a referendum to legalize marijuana for adult use in November 2022. The law took effect in July of last year, making it one of 24 states to have legalized marijuana.
Marijuana is, however, still illegal at the federal level as a Schedule I substance.
President Joe Biden's administration is in the process of reclassifying it as Schedule III, which would acknowledge it as a less dangerous drug — but many have argued simple reclassification doesn't go far enough.
More information about marijuana in Maryland can be found on the state's data dashboard.
Logan Hullinger is a Baltimore-based independent journalist. He can be reached by email at logan.hullinger@mobtownmag.com or on Twitter @loganhullinger.
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