The highest-grossing retail marijuana shop in Washington State is located just a few miles from the border with Oregon, which is in the process of setting up its own recreational cannabis industry.
The New Vansterdam retail store – in Vancouver, Washington – recorded $3.2 million sales from the start of legalized rec in July through the end of 2014. The shop is just minutes from Portland, Oregon, which has a population of more than 600,000 residents.
The sales data indicate that consumers from Oregon are heading north to purchase cannabis.
The reverse could materialize down the road, however. Many professionals in Washington fear that high prices for recreational marijuana – fueled mostly by taxes – will drive some customers to Oregon when its MJ market launches in 2016. The tax burden on cannabis businesses is expected to be much lower in Oregon, meaning marijuana could be cheaper.
Oregon has moved quickly after voters backed a measure to legalize recreational marijuana in the state during the November elections. Lawmakers approved a half-million dollars in funding to begin implementing its rec law.
