SARATOGA SPRINGS — Saratoga Springs’s first Cannabis Growers Showcase, which took place Sunday, Sept. 3 and Tuesday, Sept. 5 returned over $70,000 in gross sales, city Accounts Commissioner Dillon Moran said.
The local showcase will take place 2 to 8 p.m. at the City Center Parking Garage Friday and Sunday, Sept. 15 and 17, and switches to every Saturday and Sunday through the end of the year beginning Sept. 30, according to the NYS Office of Cannabis Management.
Nine farms presented their products in addition to a processor – who essentially makes edible goods and drinks – during the Saratoga Springs showcase, which returned more than 300 transactions on each of its first two days.
Municipalities receive a 3% tax on cannabis sales, under New York State law. That formula indicates a return of about $2,100 for the first two days of operations in Saratoga Springs.
“When you start to look at what potential ramifications can be on a full roll-out or a full-market basis, it’s very obvious…the cannabis market on a tax basis is going to be transformative,” Commissioner Moran said.