Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 130 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. NEW MEXICO Medical continued SUMMARY What to watch in 2020 New Mexico’s MMJ industry continued to grow in 2019, with patient counts up 19% over 2018, and additional improvements to the program—combined with meaningful efforts to legalize recreational marijuana—could create significant opportunities for entrepreneurs and investors in 2020. Adult-use measures have stalled in New Mexico’s Legislature previously, but Gov. Michelle Lujan Grisham has made it a high priority for 2020. The current adult-use bill made it out of a state Senate committee in January 2020 and will move before the larger legislative body in the coming months. Marijuana Business Opportunity Rank for 2020 B There are currently no opportunities for new entrepreneurs looking to enter the plant-touching side of New Mexico’s MMJ industry, as nonprofit producer applications are not being accepted. Currently, a small handful of established companies capture the lion’s share of MMJ sales in the state, with the remaining licensees finding less success. Adult-use cannabis legalization would likely create numerous additional business opportunities, though it remains to be seen if it will make it through New Mexico’s Legislature.