Since the first shops opened up in 2014, nearly $3 billion in pot sales has netted $742 million in excise tax revenue and $262 million in sales tax from 546 retailers across Washington. File photo

Since the first shops opened up in 2014, nearly $3 billion in pot sales has netted $742 million in excise tax revenue and $262 million in sales tax from 546 retailers across Washington. File photo

Redmond’s pot stores bring in the green

Redmond’s three marijuana stores are doing well for themselves.

The marijuana industry in Washington state has taken off since it was legalized by popular vote in 2012, and many local businesses have been raking in the green.

Since the first shops opened up in 2014, nearly $3 billion in pot sales has netted $742 million in excise tax revenue and $262 million in sales tax from 546 retailers across Washington.

The state’s Liquor and Cannabis Board tracks revenue from marijuana businesses, which is available on its website. A 37 percent excise tax is levied on retailers at the point of sale as well as the state and local sales tax. State revenue goes to fund a variety of services including Medicaid and anti-drug campaigns. Financial statistics are available up until the end of last October so the Reporter checked in to see how Eastside retailers fared over the previous year.

Redmond has three marijuana shops, all of which opened in 2017 or later after the city allowed stores to open following a unanimous approval vote in 2016. Always Greener opened in February 2017 and earned $1 million through last October. Hashtag Cannabis opened in March 2017 and brought in $562,000. Origins Cannabis opened earlier this year, which means there were no revenue figures posted on the Liquor and Cannabis Board’s website.

By and away the most financially successful shop in Kirkland was Higher Leaf. The store is the oldest in Kirkland and opened in 2015. Between October 2016 and the following year, Higher Leaf brought in $8.5 million in gross revenue.

This was followed by the retailer Mary Jane, which also opened in 2015, at $3.5 million in revenue. Starbuds, which opened in 2016, brought in $1.6 million during the same time. Starbuds was formerly called Kush.

Marijuana stores in the city have garnered some push back over the years as some residents struggle to come to terms with the industry’s legalization. Neighbors expressed some concern in 2016 about the placement of Kush next to Kirkland’s Costco but it lies within a commercial zone, one of two where the city allowed pot shops to set up shop.

The Liquor and Cannabis Board allocated Kirkland four retail marijuana permits, all of which have been issued. A license for a retail shop at 11834 NE 90th St. was awarded by the state and approved by the city but no business has yet open at that location.

Marijuana has fared similarly well in many cities across the Eastside. The single highest-grossing store is Issaquah Cannabis Company. Located in its namesake jurisdiction, it is the only marijuana store in the city and the only outlet marijuana connoisseurs in east King County can purchase legal pot. Between October 2016 and the following year the store grossed $8.9 million in revenue.

Bothell’s four stores have done similarly well, with Herbal Nation pulling down $6.5 million, followed by Have A Heart at $2.2 million, Local Roots Marijuana at $1.8 million and Euphorium at $283,489.

Neighboring city Kenmore has only one pot shop, Theorem, which brought in $1.9 million in sales.

Bellevue has four pot stores with the largest being The Novel Tree, which grossed $4.9 million. Higher Leaf brought in $1.8 million, followed by Green Theory Factoria at $1.7 million and another Green Theory in the Spring District brought down $747,000 at its current location. It was previously located on Main Street during which it grossed $3.7 million for a combined total of $4.45 million

Snoqualmie banned pot stores from opening in 2016 and, while not banned, none have sprung up in North Bend. All marijuana businesses are barred from operating in the city of Sammamish by city ordinance.


In consideration of how we voice our opinions in the modern world, we’ve closed comments on our websites. We value the opinions of our readers and we encourage you to keep the conversation going.

Please feel free to share your story tips by emailing editor@redmond-reporter.com.

To share your opinion for publication, submit a letter through our website https://www.redmond-reporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) We reserve the right to edit letters, but if you keep yours to 300 words or less, we won’t ask you to shorten it.

More in Business

Images of dishes from Issaquah’s Umi Cafe posted on the SMORS page. (Photo courtesy of Kristen Ho)
Facebook page promotes minority-owned restaurants across Puget Sound region

Miya Nazzaro used to be a member of Facebook pages that were… Continue reading

The Moe Vegan food truck serves meals at the city of Kent’s annual Community Thanksgiving Dinner on Nov. 21, 2020. Sound Publishing file photo
King County fire marshals offer regulatory relief to food trucks

39 fire authorities have reportedly agreed to standardize fire codes and inspections.

Cash Cards Unlimited partners, left: Nick Nugwynne, right: Cassius Marsh (photo credit: Cash Cards Unlimited)
Former Seahawks player Cassius Marsh cashes in on trading cards

Marsh and his friend open physical and online trading card store as collectibles boom amid pandemic.

Teaser
First large-scale, human composting facility in the world will open in Auburn

“It’s what nature meant us to do. We just do it faster.”

Mayuri International Foods partners, left: Mahidhar Reddy center: Neeraj Poudyal right: Ramesh Bachala (photo credit: Cameron Sheppard)
Mayuri International Foods grocery store to open in Redmond Town Center

The store will include a unique produce selection and an extensive menu of prepared hot foods.

“You stay, we pay,” promotion (photo credit: Bullseye Creative)
The city of Redmond wants to pay you to stay there

New tourism promotion will give $100 gift certificates for local businesses to guests at 8 hotels.

Whole Foods grocery store entrance (Shutterstock)
King County considers grocery store worker hazard pay for those in unincorporated areas

The King County Metropolitan Council will vote during its next meeting on… Continue reading

Screenshot
WA Democrats consider new tax on billionaires

Plan could raise $5 billion from fewer than 100 taxpayers. Detractors fear it could drive Washington’s wealthiest out of state.

Last summer, people took advantage of the outdoor dining along First Avenue between Gowe and Titus streets in downtown Kent. In Phase 2 of the governor’s reopening plan, which was announced Jan. 28, restaurants can reopen at a maximum 25% capacity and a limit of six people per table. Photo courtesy of Kent Downtown Partnership
Restaurant reprieve: State to relax some indoor restrictions

On Monday, area restaurants and certain entertainment venues may resume indoor service, the governor said.

Stock photo
State Senate passes $1.7 billion in unemployment insurance tax relief

Targets relief to the most affected businesses; helps low-wage workers by raising their benefits

Jason Wilson is a James Beard Award-winning chef and owner of The Lakehouse in Bellevue. Courtesy photo
James Beard Award winner wants to cook with you – virtually

Chef Jason Wilson can give customers an interactive dining experience in their own homes.

2021 Chevrolet Blazer. Courtesy photo
Car review: 2021 Chevrolet Blazer

By Larry Lark, contributor When it comes to certain car models they… Continue reading