PHOENIX — It’s been over three years since Arizona legalized the sale of recreational pot. It’s legal in 24 states, and for several others, it’s on their 2024 ballot. For many different states, determining if it’s a viable source of revenue that states can rely on has evolved.
The owner of Mint Dispensary in Tempe, Raul Molina, says his marijuana business is doing so well that he’s expanded his operations since the sale of recreational pot became legal in January 2021.
“Arizona is probably one of the better states to have a store in,” Molina said.
He attributes part of that growth to the state of Arizona capping the number of available licenses at 169. That’s a far cry from the amount in neighboring states like New Mexico and Colorado, which have around 2,800 and 2,600 licenses respectively.
“The licenses being capped at 169, I think it's created a market that's competitive, because it's definitely very competitive, but at the same time, it's created a market that has stopped the black market from overgrowing the regular market,” Molina said.
The idea of oversaturation has seemingly hit Denver. Eric Escudero with the Denver Department of Excise and Licenses told our sister station 9News in Denver that they have put out a list of neighborhoods that can no longer add more dispensaries or grow facilities.
“Anywhere you go in Denver, you're not farther away than a block or two from finding a dispensary at this time,” Escudero told 9 News.
The largest city in Arizona isn’t following suit.
The city of Phoenix says they don't limit the number of marijuana dispensaries or cultivations. They do have a city ordinance that includes spacing requirements from other medical marijuana dispensaries, cultivation and/or infusion facilities, residentially zoned districts, schools, community centers, daycares, homeless shelters, and places of worship.
“Arizona has been really good about keeping them separate and keeping everything you know, more in certain districts, more laid out,” Molina said.
Molina believes the best days are yet to come for pot shops in Arizona.
“I don't think the cannabis industry is slowing down at all,” Molina said.
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