Harrison township medical marijuana12/16/2023 In many ways cannabis is developing conventionally, as other businesses have, with eager entrepreneurs rushing in, facilities under development, new government regulations, retail markets sprouting, and even entrenched competition complaining. Here’s where comprehending the fantastic growth of the cannabis industry in Michigan becomes a bit of a mind-bending experience. What we’re seeing is something that had widespread use in our society now being brought into the mainstream, and being funded more directly by capital markets, scaled up, and brought into the modern-day economy.” “We’ve not allowed this plant and all its derivatives to be properly studied and looked at from a medical and recreational standpoint. “There’s been a lot of suppressed interest in this product,” says Ankur Rungta, co-founder and CEO of C3 Industries Inc., a multistate cannabis cultivator, processor, and retailer based in Ann Arbor. Meanwhile, Michigan ranks as one of the biggest legal cannabis markets in the nation, both in absolute terms and even more so on a per-capita basis. ![]() ![]() In fact, the legal cannabis trade already has estimated revenue of close to $2 billion a year statewide in absolute terms and on a per capita basis, in the wake of Michiganders’ 2018 vote to legalize marijuana for recreational purposes beginning in late 2019, which elevated legal weed’s status from “medical” applications only.Ĭannabis sales in the state are likely to reach around $3 billion before leveling off in the next few years, according to a study by Michigan State University in East Lansing.
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