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

Local pot stores bringing in the green

Bothell’s marijuana retail stores have done well recently.

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. There are three separate tiers within the marijuana industry: producers, processors and retailers. A 37 percent excise tax is levied on retailers at the point of sale as well as sales tax. State revenue goes to fund a variety of services including Medicaid. 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.

Bothell’s four stores have done 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.

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 opened at that location yet.

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.

Redmond has two marijuana shops, both of which opened in 2017 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.

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.

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.

More in Business

Courtesy photo 
                                Mercer Island financial adviser Bob Toomey recently summited Mount Shasta in California.
Financial success and mountaineering

The steps to achieving financial success mirror mountain climbing.

The new Bothell Friday Market will run from 3-8 p.m., every Friday through Sept. 27. Stephanie Quiroz/staff photo
New Bothell Friday Market opens

Bothell Friday Market will run every Friday through Sept. 27

Kiddie Academy locations on the Eastside win national recognition

Six locally owned educational child care centers received an award for brand excellence and customer service.

Selection and steady sales characterize local market

Buyers can enjoy additional selection this summer as they look for the home of their choice.

The Bothell Kenmore Chamber of Commerce honored the Country Village owner as member of the month after it closed at the beginning of June. Kailan Manandic / staff photo
Eastside business booms with summer options

Locals can visit numerous new developments this summer, all within Eastside communities.

First & Main Design Market offers a broad assortment of vintage and artisan built furniture pieces. Each piece is specifically and carefully selected. Stephanie Quiroz/staff photo
First & Main Design Market opens in Bothell

The new destination store offers retail furniture, vintage treasures, and professional interior design services.

Just Get Me Started founder Suzanne Tseng participates in one of the weekly workshops that taught locals how to create intricate chalk art.
Kenmore’s Tseng helps locals ‘just get started’

Suzanne Tseng launched her business Just Get Me Started to help locals pick up hobbies and skills.

From left: Craig Olson, Joan Schrammeck, and Paula Paula DelGiudice with a solar panel. Stephanie Quiroz/staff photo
Little Bit in Redmond goes solar

Northwest Electric and Solar (NWES) of Kenmore donates a solar energy system to the therapeutic riding center.

Microsoft reveals project criteria for $500 million affordable housing funds

The company will soon accept applications for projects related to affordable housing on the Eastside.

Local real estate market brings more opportunities for buyers

Homebuyers are also benefiting from lower interest rates, which are currently are less than four percent.

Maurita Colburn, the chamber’s Member and Community Relations manager, welcomes Country Village owner Leeann Tesorieri as she receives a standing ovation from local business owners. Kailan Manandic/staff photo
Bothell Kenmore Chamber honors Country Village

The chamber awarded Country Village owner, Leeann Tesorieri, as member of the month.

Kailan Manandic/staff photo 
                                Bothell’s newest animal hospital opens with a joint celebration hosted by the Bothell Kenmore Chamber of Commerce.
Twin Pines Animal Hospital offers new vet services in Bothell

The animal hospital had been operating in the community for years before opening a new location.