The Bay State? More like the BAE State for would-be cannapreneurs. Massachusetts, having just opened its first retail locations back in November of 2018, has seen 100 cannabis licenses doled out by the state’s Cannabis Control Commission. In addition to retail, those licenses are largely going towards non-retail businesses within the plant-touching industry –think: rendering, testing, cultivation. But with a ninth retail licensee coming down the pike, the CCC is anticipating four to eight retail licenses per month through 2019, according to a report from MJ Biz Daily.

Additionally, the CCC reported $24 million in sales since Massachusetts became the first state on the East Coast with adult-use sales. Back-of-envelope projections suggest Massachusetts will clear $163,000,000 in sales for 2019, with billion-dollar projections in ensuing years. What does this all mean? Well, Massachusetts’ system is working pretty good so far. Let’s have a look.

Massachusetts Is The Clear East Coast Cannabis Leader

Cannabis legalization is moving rapidly, particularly in states such as Maryland, New Jersey and New York, but for now: everyone is looking up at Massachusetts’ cannabis industry. The CCC has soberly taken the lessons learned from the cannabis launches of states out west and applied those lessons to its own legalization and licensing rollout. One need only look north and east from Boston towards Maine for how licensing, regulation and legalization can go sideways … quickly. (Quick aside: Give us a call, Governor Mills).

While the populations of NY and NJ will surely dictate that those states become sales leaders and, to an extent, hubs of canna-related commerce upon legalization. Massachusetts, with its tech corridor, emphasis on inclusion, and healthy head start on its eastern competition is the leader until proven otherwise.

Compliance and Regulations Are Working In Massachusetts

We’re compliance guys, so pardon us for looking at Massachusetts’ success through compliance-tinted glasses. But the state’s regulations and licensing programs are working so far. Like our own director of compliance, Juli Crockett, explained recently, “Newly regulated states such as Massachusetts demonstrate both the need and the desire for a regulated, legal method of obtaining safe, tested cannabis. As had been said time and time again, localities that ban licensed commercial cannabis activity are only banning regulated activity, as the illicit markets continue to thrive. The greatest foil to the illicit market is a sanely-regulated, fairly-taxed, robust regulated market.”

Amen, Dr. Juli.