By Pilar Martinez,
Money and Investing Writer
There is a new hype going around about the recent legalization of marijuana in Colorado. However, this new change in Colorado is bringing with it an influx of sales for marijuana edibles.
Dixie, the most popular company for producing edibles, stated that its predictions for how the market would be doing were completely wrong. The company’s entire monthly prediction of sales were reached within the first three days of the legalization.
There has been so much demand for the variation of edible products that customers are actually limited to purchasing up to two edibles within one day of purchases.
Dixie produces a variety of marijuana infused edibles such as chocolates, mints, topical lotions and elixirs. This being said, not only are customers able to try different types of edibles, but they are desiring a mass amounts of each to provide a high to their daily lives.
Dixie is overwhelmed with the amount of demand currently present for their products. With this, the company is taking action on how to initiate better work plans to keep up with the demand from customers.
Employees are working longer hours just to be able to meet the needs and wants of the demographic in Colorado. The company seeks 10,000 new jobs open to those who wish to work in order to help with acceleration in production.
Dixie also plans on expanding its warehouse. By the spring, the company will rent out a 30,000 square foot facility to occupy its production plant and warehouse.
The newly provided projection for legal marijuana sales in the U.S. for this year is about $2.5 billion. The legalization means the U.S. can now tax marijuana sales as the government chooses and also can regulate the health standards of it.
Colorado is benefitting from this decision more so than ever thought to be possible. The unemployment rate is going to decrease and the state will have more money to work with for recreational purposes just with the tax amount subject to marijuana sales.
Not only are edible products becoming a more popular way to make money, but businesses are also taking advantage of opportunities as well. For example, real estate agents throughout Colorado are making property available just to grow marijuana plants.
This is becoming an appealing idea to the public, but will it take away from the productivity and profits of companies that produce edibles? The assumption is no. It is believed that edible marijuana businesses will continue to grow in net profit.
However, is this temporary? Will the public get bored? These are all questions that need to be considered for accurate predictions to be made in the future.
For now, sales are growing and so are businesses and the marijuana market. Marijuana is the next big thing in Colorado and anyone who wants to buy stock should invest in a company which sells it once the federal government approves and passes any necessary information in order to initiate the official launch of legal marijuana.
With the sales generated so far, it would not be a surprise to see other states follow Colorado and legalize marijuana.
A version of this article appeared in the Tuesday, Jan. 28 print edition.
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