San Rafael’s Pot Revenue Comes in Below Expectations
In 2018, San Rafael became the first of Marin County’s municipalities to begin licensing local marijuana dispensaries. New numbers show revenue is just a fraction of what was initially projected. But city officials, while disappointed, aren’t worried. They say the industry simply needs more time.
Cannabis revenue for 2019 came out to $243,554. Annual revenue was projected at $1 million.
Our approach was always to dip our toe in the water,” Vice Mayor Kate Colin said (Marin Independent Journal).
“It’s disappointing in that it means the industry, or at least the sectors we’ve encouraged here locally, haven’t taken off as expected,” acknowledged Councilman Andrew McCullough. San Rafael allows up to 23 cannabis businesses. So far, just 10 enterprises—half of them delivery services—are in operation.
State revenue has also failed to keep pace with expectations.