June 20, 2021
Business

Arkansas’ growing demand for medical marijuana adding to state tax coffers

On Friday, May 10, 2019, Suite 443 in Hot Springs (then known as Doctor’s Orders) opened its doors as the state’s first medical marijuana dispensary.

It was the toke heard (well, taken) ’round the world, setting off an economic revolution in Arkansas that, at its two-year anniversary, has well outpaced projections. And, industry experts say, there’s no sign of slowing down as growers and retailers enter uncharted territory of demand.

“When we went into this, we did project that 40,000 to 50,000 patients would be a mature market,” says Scott Hardin, spokesman for the Arkansas Alcoholic Beverage Control Board. “Today, we’re at [76,500].”

Those 76,500 active patients are spending about $885,000 per day on medical marijuana, spread out over the state’s 32 operating licensed dispensaries, Hardin adds.

What’s more, the pace is quickening.

“That daily number, if we go back to late 2020,…

Read full article here: www.arkansasonline.com