New marijuana dispensary opens in Moline
“We’re excited”, says Sean Molina, Revolution’s vice president of business operations. “The staff’s excited to finally get the doors open and be able to serve to the Quad Cities.”
Hundreds marched to Moline as its second legal cannabis dispensary officially opened.
“We’re very excited about what the potential of this store could be,” Molina says. “I think we’re in a good position to do pretty well here.”
According to the Illinois Department of Financial and Professional Regulation, Illinois set records for cannabis sales in 2022. Adult-use sales reached a record high of $1.5 billion dollars.
“Cannabis tax has been a big source of income not only for local communities but also for the state,” Molina says. “It outpaces alcohol at this point from the state perspective. It’s going to bring that aspect to the community and on a yearly basis now, and revenue that may have not necessarily been fully realized in some communities. I think it can only benefit the communities at large.”
In a press conference with Moline Mayor Sangeetha Rayapati, she explained that the cannabis tax ordinance was passed by the Moline City Council in 2020 but it was not filed with the state at that time.
“We will continue to focus on solutions to this problem and look forward to the new jobs and economic activity created by the opening of a second cannabis dispensary,” says Rayapati.
Because of the city’s filing mistake, the state can’t collect tax revenue until July of next year.
“Needless to say, this development is extremely disappointing,” said Rayapati. “It’s the kind of situation my family would characterize as just a shame.”
She says the city projected anywhere from $300,000-$500,000 in cannabis tax revenue for the next budget year and they are hoping to get access to the tax money sooner.
“While I remain disappointed in past process failures, I’m thankful for the ability for better administrative oversight of our work than was available in 2020,” says Rayapati.
She also adds that “This error will not significantly impact our 2024 budget.”
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