Cannabis Business in Colorado

The Colorado cannabis market generated significant retail sales for the Fiscal Year 2022-2023:

• The Colorado Colorado Medical Marijuana Registry grew to nearly 815 thousand registered patients in 2023,
• The state collected a total of $2.6 billion in tax revenue from 2014 to 2023, according to the Colorado Department of Revenue,
• Total sales from medical and recreational cannabis reached $1.5 billion in 2023,
• More than a thousand dispensaries operated across Colorado in 2024.

Overview of the Cannabis Industry in Colorado

The cannabis industry in Colorado is regulated by the Marijuana Enforcement Division (MED), a part of the Colorado Department of Revenue. The MED is responsible for licensing and regulating both the medical and recreational marijuana industries. The Colorado Department of Public Health and Environment also plays a role in regulating certain aspects of the cannabis industry, including CBD products and industrial hemp cultivation.

Business Opportunities in the Cannabis Industry

Colorado has a thriving cannabis industry with many opportunities for entrepreneurs. If you are considering starting a cannabis business, there are many resources available to help you get started. You can find information about licensing requirements, regulations, and other helpful resources on the MED website. You can also find information about cannabis businesses for sale through various online resources.

Types of Cannabis Businesses

• Medical Marijuana Stores
• Medical Marijuana Products Manufacturers
• Medical Marijuana Cultivation Facilities
• Medical Marijuana Testing Facilities
• Medical Marijuana Transporters
• Retail Marijuana Stores
• Retail Marijuana Products Manufacturers
• Retail Marijuana Cultivation Facilities
• Retail Marijuana Testing Facilities
• Retail Marijuana Transporters

Social Equity in the Cannabis Industry

Colorado is committed to fostering an inclusive and equitable cannabis industry that acknowledges the effects of decades of criminal enforcement of marijuana laws on communities of color. The MED has a Social Equity Program that provides resources and support to individuals from communities that have been disproportionately impacted by the war on drugs.

Eligibility Criteria for Social Equity Licenses

A person is eligible for a Social Equity License if they meet specific criteria, including:

• Residency in an Opportunity Zone
• Income requirements
• Marijuana-related convictions

The MED's Social Equity Program offers a variety of benefits to eligible individuals, including:

• Reduced application and licensing fees
• Technical assistance and training
• Access to capital