Thanks to Dbusiness for this:
Michigan’s cannabis growing industry reached $3.2 billion dollars across 400 licensed medical provisioning centers and 300 licensed adult-use retail stores in 2020, says a new report by East Lansing-based Anderson Economic Group commissioned by the Michigan Cannabis Manufacturers Association.
“The Anderson Economic Group study reflects a vibrant regulated marketplace with unlimited economic potential,” says Shelly Edgerton, board chair of the MCMA. “This includes continually growing demand for medical and adult-use cannabis across the state. The study also suggests continued growth in state revenues for schools, senior programs, and other essential services. That’s good for all Michiganders, regardless [of] if you consume cannabis.”
The report found that one in five Michiganders reported using cannabis in the past year, which translated to nearly $1 billion in legal sales across the state.
The industry also generated $169 million in tax and fee revenue.
The market, however, remains split between legal and illicit transactions, which the report found accounted for around 70 percent of the cannabis market, leaving these “off-the-books” transactions the primary method in which Michiganders procure cannabis.
“The Anderson Economic Group study shows large quantities of untested, illicit cannabis continue flooding the market. This poses a significant threat to patient and consumer safety,” says Stephen Linder, MCMA executive director. “The study makes clear Michigan can and should be a leader in cannabis safety, innovation and entrepreneurship. With this information in hand, we now have a full picture of Michigan’s cannabis market and a clear understanding of the challenges that lie ahead.”
The Michigan Cannabis Manufacturers Association is an association of many of the State’s largest Growers, Processors, and Vertically Integrated Cannabis Licensees. All members of the MCMA must be licensed by the Marijuana Regulatory Agency.