Pritzker Administration Celebrates As Cannabis Sales In Illinois Soar To New Heights, Exceeding $1.6B

Illinois's cannabis sales have surpassed $1.6 billion in 2023, marking the third consecutive year of substantial growth in this sector.

Governor JB Pritzker's administration announced a record-breaking year in adult-use cannabis sales in Illinois on Thursday, reported the Illinois Department of Financial and Professional Regulation (IDFPR).

Significant Growth And High Tax Revenues

In 2023, Illinois witnessed a more than 15% increase in the number of cannabis items sold compared to the previous year. This impressive growth is reflected in the $417.6 million collected in sales taxes by Illinois dispensaries, according to the Illinois Department of Revenue.

Pritzker emphasized the administration's commitment to an accessible cannabis industry. "From day one, my administration has put equity first to build the most accessible cannabis industry in the nation. Our work will continue to repair past harm while providing opportunities for communities across the state and creating a more prosperous future," he said.

Uplifting Economies

Lt. Governor Juliana Stratton highlighted the positive impact of cannabis legalization on communities affected by the war on drugs. "The legalization of adult-use cannabis was the start of uplifting the communities most impacted by the failed war on drugs," she said. "The benefits from these sales will be used to continue investing in our economic growth in historically disinvested populations."

Record-Breaking Sales And Social Equity

Illinois dispensaries sold a total of 42,124,741 items in 2023. Illinois resident sales alone amounted to over $1.2 billion, a 14% increase from the previous year. December 2023 set a new monthly record with almost $154 million in sales. However, sales to out-of-state residents decreased by 14%.

"These statistics show encouraging progress that is a testament to the hard work by the Pritzker Administration, lawmakers, and stakeholders in ensuring we create a process that’s accessible to everyone, no matter their gender, race, or where in Illinois they call home," said IDFPR Secretary Mario Treto, Jr.

The state currently boasts 177 adult-use cannabis dispensaries, including 67 social equity dispensaries. An additional 133 applicants from the 2022 Social Equity Lotteries and 55 from the July 2023 Social Equity Criteria Lottery are in the process of receiving their full dispensary licenses.

Photo by Erol Ahmed on Unsplash