The latest Colorado Marijuana Market Report finds that retail/recreational licenses continue to increase in number while medical licenses are now decreasing. Despite the decrease, the total number of marijuana business licenses continues to grow. The quarterly Market Report is produced by the University of Denver’s Daniels College of Business Assistant Professor Paul Seaborn.
“The total number of active marijuana business licenses issued by the Colorado Marijuana Enforcement Division is at an all-time record high of 2,971, up from 2,913 in December 2016,” says Seaborn. “52.5 percent of active licenses are for medical marijuana businesses, down from 54.5 percent in December 2016. 47.5 percent are for recreational/retail businesses, up from 45.5 percent.”
The report finds that retail dispensary, cultivation and manufacturing licenses have all increased in number since December 2016 while medical centers, cultivation and manufacturing licenses have all decreased.
The study also finds that Log Lane Village has entered the top 15 city list, the cities with the most marijuana licenses. The town of about 900 people in Morgan County has 18 active licenses. Denver, Colorado Springs, Boulder, Pueblo and Pueblo West remain the top five cities for marijuana licenses. Trinidad has now passed Aurora in sixth place.
In addition, the Green Solution is now the third largest license-holder in the state, passing SweetLeaf.
“Native Roots and LivWell continue to have the largest number of licenses operating under a single name but each have fewer active licenses than in December 2016,” Seaborn says. “The Green Solution is now the third largest license-holder in the state with 33 licenses. No single organization name represents more than 2.1 percent of the state’s licenses.”
The Colorado Marijuana Market Report will be a quarterly publication by Seaborn analyzing the data from the Colorado Marijuana Enforcement Division (MED) and other sources.
About the author:
Paul Seaborn is an assistant professor in the Department of Management, Daniels College of Business. Prior to joining Daniels, he completed a Ph.D. in Strategic Management at the University of Toronto and worked for eight years as a consultant for Mercer Management Consulting (now Oliver Wyman) and IBM Global Services. He is the author of one of the first business teaching cases on marijuana and launched the first-ever “Business of Marijuana” course at the Daniels College of Business in spring 2017. His recent research projects examine information disclosure and reputation (ratings, rankings, classification), industry regulation, and corporate political activity. Read more.