Marijuana Business Factbook 2019

75 © 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. State-By-State: Legal Overview, Market Data and Outlook | Chapter 2 MJBIZDAILY.COM SUPPLY CHAIN DYNAMICS Retail store structure For-profit allowed Number of businesses allowed Retailers: Up to 110 retail stores will be operated by existing MMJ dispensaries on 1/1/20. Up to 75 additional retail licenses awarded by 5/1/20. Up 110 additional retail licenses awarded by 12/21/21. At no point can the number of retail licenses exceed 500. Cultivation centers: 30 Craft growers: Up to 40 licenses issued by 7/1/20. Up to 60 additional licenses awarded by 12/21/21. At no point can the number of craft growers exceed 150. Infusers: Up to 40 licenses issued by 7/1/20. Up to 60 additional licenses awarded by 12/21/21. No cap on number of infuser licenses awarded. Transportation organizations: No cap Number of retailers operating in early 2020 48 MARKET OVERVIEW Estimated number of in-state customers 1,200,000-1,500,000 Estimated 2019 recreational marijuana sales via retail stores None―sales didn’t begin until 2020 Overall 2019 marijuana market $251 million