As we near the end of 2024, it’s wise to assess the growth and challenges of the cannabis industry in Vermont. Our tax revenue for 2023 was $15,210,000… Yup, $15.2 million.

In comparison to other legal states, this number may strike you as small. But when you’re reminded of the fact that Vermont’s population is made up of a mere 647,000 people (a number that only seems to go down, unless someone…or some industry does something substantial) $15.2 million doesn’t seem so small.

Excitingly, it’s time to think about the 2024 numbers, and thus what successes we can project for 2025. In the eyes of the Vermont NORML team, these projected successes could include things like delivery licensing, adjusted advertising policies, or social consumption licensing. Expanding the opportunities for revenue in the Vermont cannabis industry may also create more pathways for young, inward migration to fortify the tax base.

Vermont needs to take this seriously, because look at the competitors:
Maine $35,593,347
Massachusettes $272,445,292
New Jersey $41,889,891u
Connecticut $24,613,366
New York $50,760,000
Rhode Island $17,203,256

Luckily, New Hampshire is leaving on the table: $36,733,372. But how long can that last…

It’s high time this industry expands and creates more job opportunities; jobs that have the potential to attract young people to the Green Mountains.

Source: The Motley Fool