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How Many Cannabis Dispensaries Are There In Providence, Rhode Island?

In May 2022, Rhode Island’s Governor signed ‘The Rhode Island Cannabis Act’ which legalized the personal use and licensed retail sale of cannabis to people 21 years old or older. Provisions of the law permitting adults to possess and cultivate cannabis at home took effect upon signage.

The Rhode Island Cannabis Act allows adults aged 21 and over to possess up to one ounce in public or up to 10 ounces at home, to cultivate up to six plants (no more than three mature), and to purchase limited amounts of cannabis.

“Providence has one dispensary and there are six other dispensaries around the state. Separately, there are 24 available licenses for retail cannabis sales, but the state Cannabis Control Commission has not yet established rules for how retailers are supposed to apply for those licenses, much less figured out how to award them.” stated Providence Journal in its initial reporting.

Providence is considering expanding the areas in which cannabis businesses can be located within the city. Providence, Rhode Island was recently named a top-10 ‘Best Cannabis City in the U.S.‘ by Leafly and Real Estate Witch.

Total legal cannabis sales in the United States are expected to reach $31.4 billion in 2024 according to a recent analysis by Whitney Economics. Additionally, leading cannabis jobs platform Vangst, in conjunction with Whitney Economics, estimates that the legal cannabis industry now supports 440,445 full time-equivalent cannabis jobs in the United States.

Whitney Economics also projects the following legal cannabis sales figures in the United States for the coming years:

  • 2024: $31.4 billion (9.1% growth from 2023)
  • 2025: $35.2 billion (12.1% growth from 2024)
  • 2030: $67.2 billion
  • 2035: $87.0 billion

The emerging legal cannabis industry in the United States is projected to add roughly $112 billion to the nation’s economy in 2024 according to a newly released analysis by MJBiz Daily. The projection is part of the company’s 2024 MJBiz Factbook.

“The total U.S. economic impact generated by regulated marijuana sales could top $112.4 billion in 2024, about 12% more than last year,” MJBiz stated in its initial reporting.

The United States adult-use cannabis industry has generated over $20 billion in total tax revenue since the first legal recreational cannabis purchase was made in Colorado on January 1st, 2014 according to a new report by the Marijuana Policy Project.

“Through the first quarter of 2024, states have reported a combined total of more than $20 billion in tax revenue from legal, adult-use cannabis sales. In 2023 alone, legalization states generated more than $4 billion in cannabis tax revenue from adult-use sales, which is the most revenue generated by cannabis sales in a single year.” the Marijuana Policy project stated in a press release.