LANSING, July 2, 2021 ~ Recreational marijuana usage was legalized in Michigan in 2018. According to Anderson Economic Group, marijuana sales in Michigan reached $3.2 billion in 2020.
“The Anderson Economic Group study reflects a vibrant regulated marketplace with unlimited economic potential,” said Michigan Cannabis Manufacturers Association (MCMA) Board Chair Shelly Edgerton.
Despite new legalization laws, illegal sales still remain the primary way Michiganders procure marijuana. The study found that nearly 70% of all cannabis market sales in Michigan still occur outside of regulated retail stores.
July 1, 2021 ~ Executive Director at the Marijuana Regulatory Agency Andrew Brisbo talks with Kevin Dietz about how much money the Michigan cannabis industry is bringing in.
June 29, 2021 ~ Founder and CEO of Anderson Economic Group Patrick Anderson talks with Guy Gordon about marijuana businesses still operating outside of regulation.
The MCMA says it represents over half of all licensed cannabis businesses in Michigan. MCMA commissioned Anderson Economic group to conduct the study, which found that Michigan is home to more than 400 licensed provisioning centers, and 300 licensed adult-use retail stores.
A key finding of the study stated that 1 in 5 Michiganders reported using cannabis, which led to $1 billion in legal sales. The remaining $2.2 is estimated to go into illegal transactions.