Why it matters: The city of Albuquerque now has more cannabis dispensaries than liquor stores, highlighting the significant growth of the cannabis industry since New Mexico legalized adult-use cannabis in June 2021.
What they are saying: The high number of cannabis stores is causing competition between owners and turning local industry members against one another in a fight to stay alive. Smaller business owners fear they will have to shut down as larger dispensaries take over.
The big picture: The New Mexico cannabis industry is sailing at full speed ahead, with the city of Albuquerque wading through 20 requests for exemptions to the 600-foot rule, 14 of which they have granted.
What to watch: As the industry continues to grow, it will be important to monitor the ongoing competition between larger and smaller businesses and the impact this has on the industry as a whole.
My take: While the growth of the cannabis industry is exciting, it’s important to remember the impact on smaller businesses and ensure fair competition within the industry. Local regulations and support for small business owners will be crucial in ensuring a thriving and equitable industry.
