Jessica Mendoza

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Friday, April 18th. Coming up on the show, how one Colorado town's cannabis dreams went up in smoke. Pueblo is a city two hours south of Denver, with a population of just over 100,000 people.

When recreational weed became legal in Colorado in 2014, Pueblo saw an opportunity to establish itself at the center of the cannabis boom.

When recreational weed became legal in Colorado in 2014, Pueblo saw an opportunity to establish itself at the center of the cannabis boom.

When recreational weed became legal in Colorado in 2014, Pueblo saw an opportunity to establish itself at the center of the cannabis boom.

The county commissioner at the time called it the Napa Valley of Cannabis. Advocates like him imagined Pueblo would draw marijuana lovers from around the country. Why was this so important to Pueblo?

The county commissioner at the time called it the Napa Valley of Cannabis. Advocates like him imagined Pueblo would draw marijuana lovers from around the country. Why was this so important to Pueblo?

The county commissioner at the time called it the Napa Valley of Cannabis. Advocates like him imagined Pueblo would draw marijuana lovers from around the country. Why was this so important to Pueblo?

The idea was that embracing the legal cannabis industry could bring new jobs, tourism, and tax revenue to Pueblo. And at first, it seemed like that's exactly what was going to happen.

The idea was that embracing the legal cannabis industry could bring new jobs, tourism, and tax revenue to Pueblo. And at first, it seemed like that's exactly what was going to happen.

The idea was that embracing the legal cannabis industry could bring new jobs, tourism, and tax revenue to Pueblo. And at first, it seemed like that's exactly what was going to happen.

One local newspaper reported that the day after legalization, 50 people were camped out in front of one of the first weed shops in Pueblo, waiting for the doors to open. And in the first month of legalization, the two licensed shops in Pueblo County rang up a combined $1 million in sales. That amounted to $56,000 in taxes for the county. Pueblo couldn't get more shops licensed fast enough.

One local newspaper reported that the day after legalization, 50 people were camped out in front of one of the first weed shops in Pueblo, waiting for the doors to open. And in the first month of legalization, the two licensed shops in Pueblo County rang up a combined $1 million in sales. That amounted to $56,000 in taxes for the county. Pueblo couldn't get more shops licensed fast enough.

One local newspaper reported that the day after legalization, 50 people were camped out in front of one of the first weed shops in Pueblo, waiting for the doors to open. And in the first month of legalization, the two licensed shops in Pueblo County rang up a combined $1 million in sales. That amounted to $56,000 in taxes for the county. Pueblo couldn't get more shops licensed fast enough.

One local joint that sprung up during that exciting moment was called Sticky Icky's. In 2016, the owners set up shop on a popular route from the city to a local lake, which brought a lot of business in the summertime.

One local joint that sprung up during that exciting moment was called Sticky Icky's. In 2016, the owners set up shop on a popular route from the city to a local lake, which brought a lot of business in the summertime.

One local joint that sprung up during that exciting moment was called Sticky Icky's. In 2016, the owners set up shop on a popular route from the city to a local lake, which brought a lot of business in the summertime.

By 2017, Sticky Icky's was riding Pueblo's cannabis high. At one point, its daily sales rang up to about $20,000. But that boom didn't last long. And soon, things started looking sticky for businesses like Sticky Icky's.

By 2017, Sticky Icky's was riding Pueblo's cannabis high. At one point, its daily sales rang up to about $20,000. But that boom didn't last long. And soon, things started looking sticky for businesses like Sticky Icky's.

By 2017, Sticky Icky's was riding Pueblo's cannabis high. At one point, its daily sales rang up to about $20,000. But that boom didn't last long. And soon, things started looking sticky for businesses like Sticky Icky's.

The 200 shops faced a lot of competition from each other. And it didn't help that the taxes on marijuana products were so high.