Cannabis is one of New Mexico’s newest booming industries. The structure of the industry is set up quite differently than other states. Dispensaries are called LNPPs, which are licensed non-profit producers. Vertical integration is required in New Mexico as well. The medical cannabis market is on the rise with the introduction of new laws and a stronger licensing structure than the state previously had.
Medical Use: Yes
Adult Use: Yes
Since vertical integration is required, getting into the cannabis industry in New Mexico requires a significant amount of cash.
Generally there are no caps – it is up to the locality to decide if businesses can operate after the application process.
Cannabis sales have doubled in the past 2 years. New Mexico is starting to have increased competition with their northern border, Colorado. (coloradosun.org)