New report says Washington pot sales will surpass $2 billion by 2020

January 2, 2017 Uncategorized

New report says Washington pot sales will surpass $2 billion by 2020

The Puget Sound Business Journal (PSBJ) recently published with an article discussing the growth of the cannabis industry; particularly in Washington state. The use of cannabis for both medical and recreational use has become increasingly popular, and it does not look like it is slowing down any time soon.  In fact, according to the PSBJ, “Washington’s combined medical and recreational use sales are projected to grow from $1.2 billion in 2016 to $2.4 billion in 2020, a compound annual growth rate of 23 percent. After more than two years in operation, sales in Washington’s adult recreational use market have continued to exceed expectations”.

The article reported statistics generated by a joint effort of Arcview, a company with a wide reaching investor network and a number of cannabis ventures along with New Frontier, a Washington D.C. based big data company that analyzes the legal cannabis industry.

This is exciting news for the cannabis industry, as well as for us! We certainly see the potential for growth in the cannabis industry for Washington State and are thrilled to announce that Ruby 10-packs will be available this month. Contact your local legal retailer to find out if they will be among the first stores to received the new Ruby 10-packs