The legal cannabis industry in New York is projected to see explosive growth, with new licensed pot stores expected to more than double to over 625 in 2025.
The Office of Cannabis Management estimated New York's cannabis sales could exceed $1.5 billion in 2025, driven by a surge in dispensaries and consumer interest.
"Doubling the number of stores opening in 2025 would be huge. It will help suffocate the illicit operators," said Joe Rossi, a cannabis industry lobbyist.
"It's also significant that entrepreneurs in the market are deeply dialed into consumer tastes and interests, so their adaptability will factor into the pace of market growth," noted OCM's Felicia Reid.
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