BINGHAMTON, NY (WBNG) — Governor Kathy Hochul announced on Tuesday that New York State reached a historic milestone of more than $1 billion in cannabis retail sales.
“Today, we recognize the $1 billion milestone as more than just a number. It’s a testament to the hard work of those who helped build the strongest cannabis industry in the nation,” said Hochul. “One that prioritizes equity, ensures public safety, and empowers communities.”
Todd Hartman, CEO of Scared Bloom in Vestal, told 12 News everyone is getting in on the money.
“What it means for myself and other local dispensaries is that the income potential is good and vast,” said Hartman. “And at the same time, there is a lot of new dispensaries opening up so that’s getting dispersed.”
The financial success comes from the more than 5,000 licenses, permits, and registrations issued or approved by New York State to date.
According to Hartman, the cannabis industry has also provided countless jobs.
“All the way from seed to sale, there’s a lot of divisions in the cannabis market,” said Hartman. “Growing, processing, laboratory, retail or dispensary operations, it’s a growing market, it’s a big market.”
Chris Myers, CEO of the Greenery Spot in Johnson City, told 12 News, “The future of the cannabis industry in 2025 looks incredibly promising, with sales doubling in the past year and continued growth driven by more affordable prices, rising product quality, and a greater variety of offerings from existing and new brands.”
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