News and Information about the Business of Cannabis

Cannabis Equity in Michigan: Update on the Fight for a Fair Industry

Oct 29, 2020 | Great Lakes Region, Michigan

Michigan’s legal cannabis industry is one of the country’s youngest, with adult-use dispensaries open only since December 2019. And while business is healthy—in July, the state reported earning $200 million in revenue in less than seven months—Michigan faces several challenges. Three-fourths of its municipalities have opted out of the state-approved recreational program, and at over $400 on average for an ounce of retail flower, cannabis is much more expensive than other parts of the country.

And like those other parts of the cannabis industry, Michigan’s market also faces a diversity problem. In a survey sent out by the state, only 4% of license holders were Black, despite a 14% statewide population (though only 19% of the cannabis business surveys were returned). 

Fortunately for the marginalized communities hurt most by prohibition, there are forces working to help create a fair industry in Michigan, where cannabis sales are expected to reach $1 billion annually by 2021.  

To read more, click on https://www.cannabisbusinesstimes.com/article/michigan-social-equity-licensing-cannabis/

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