Michigan hit record breaking marijuana sales in December with nearly $280 million dollars, according to a report from the Cannabis Regulatory Agency. The state topped more than $3 billion dollars in marijuana sales in 2023.
“You know that’s comes out to about $305 worth of marijuana per person in this state, per capita.”
Brian Hanna is the Executive Director of the CRA that oversees the marijuana industry in Michigan. He credits the burgeoning business to careful planning, good regulations, and the hard work of those building the industry. And there’s another factor at play – something he calls “cannabis tourism:”
“We are a state that has an adult use program surrounded by states that don’t.”
Then there are the taxes. Medical and adult use sales are subject to the 6% sales tax, and an additional 10% excise tax on the adult use side.
“We could be potentially at a half a billion dollars or a least close to that for fiscal year ‘23.”
Industry experts estimate Michigan’s marijuana sales are near peak, at around $3.1 or 3.2 billion dollars a year, but Hanna says wait and see.
“It’s a legitimate industry. Its building, its growing, pun intended.”
