In a recent work session held by the Pueblo County Board of County Commissioners (BOCC) on January 2, 2025, significant concerns were raised regarding the current state of the cannabis industry in the region. Representing Heartland Cannabis Products, a local business, the speaker highlighted alarming declines in sales and tax revenues, attributing these issues to unfavorable market conditions.

The speaker revealed that sales revenue has plummeted to approximately 40% of last year's figures, which itself was already down by 30% from the previous year. This drastic decline has forced the company to make difficult operational decisions, including laying off employees and halting distributions to owners. The speaker emphasized the dire situation by sharing that they recently purchased cannabis at an unsustainable price of $225 per pound, indicating that producers are struggling to remain profitable.

The speaker called for a stakeholders meeting to discuss the industry's challenges and requested a pause on any decisions made by the commissioners until these issues could be addressed. They expressed concern over the growing number of unpaid accounts and the potential for more cannabis businesses to close, which could lead to a significant loss of tax revenue for the county.

In addition to the immediate financial struggles, the speaker warned that without changes to the current regulatory environment, Pueblo County could be ill-prepared for potential national legalization of cannabis. They urged the commissioners to consider the broader implications of their decisions on the local economy and the future of cannabis businesses in the area.

The meeting underscored the urgent need for communication between local cannabis businesses and county officials to navigate the challenges facing the industry. As the situation continues to evolve, stakeholders are hopeful for collaborative solutions that will allow them to sustain their operations and contribute positively to the community.