Last week as the state’s entrepreneurial ranks of I-502 retailers did their best to drum up even more business on 4/20, protesters again targeted 23rd and Union’s Uncle Ike’s to speak out against change in the neighborhood — and, for some, the inequitable way the legalized drug industry has played out. But just how big has the industry grown?
Across Capitol Hill and the Central District, there were more than $1.7 million in I-502 marijuana sales last month, according to state data organized by 502data.com. 84% of that was generated by Ike’s. The rest were generated by Uncle Ike’s closest competitor, Ponder, which opened in September just down the block on E Union, and 15th Ave E/Republican’s Ruckus, which opened as the first pot shop on Capitol Hill in December.
37% of those dollars went back to the state, remember. Since its birth in late September 2014, Uncle Ike’s has paid the state $6.9 million in excise tax. Don’t feel too sorry. Owner Ian Eisenberg got to put the remaining $12.3 million of it to work powering the business and doing whatever else he likes to do with his money. Uncle Ike’s is a CHS advertiser! In the meantime, Ike’s is now the second largest pot retail location in the state after Vancouver’s Main Street Marijuana.
How the sales trends will continue is anybody’s guess. The three active retailers in the area produced growth of 11% month over month coming into March. We’re going to assume 4/20 sales were good. And another boost is in the works as Capitol Hill’s second I-502 pot shop — and the second along 15th Ave E — is currently under construction.