Michigan does not cap the number of state-issued marijuana licenses, but local governments do have the power to limit or limit the types and number of licensed establishments in the state. For this reason, it is important to understand the rules of each community before purchasing a property. These are Michigan cities that allow recreational marijuana facilities.
Our community data is updated regularly and contains everything you need to know to make your marijuana property search a success. Types of recreational marijuana facilities include C-grade cultivation (2000 plants), B-grade cultivation (500 plants), A-grade cultivation (100 plants), Micro-cultivation (150 plants and retail), processing/manufacturing/extraction, retail pharmacy, inspection, transportation, public consumption.
Colorado and California may come to mind when you think of cannabis. But so are the Great Lakes of Michigan. Investors looking to get into the marijuana industry should seriously consider opening a facility in Michigan.
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Is California the best place to open a pharmacy?
Check out BMG’s amazing Green Zone property right here in Mitton. Don’t miss your chance to join the Green Rush! Business is booming at cannabis dispensaries in Michigan. The recreational marijuana market alone generates about $60 million in monthly sales, according to Andrew Brisbon, director of the Michigan Marijuana Regulatory Agency.
Total recreation revenue surpassed $440 million in 2020. Sales have been increasing every month for the past year. Marijuana facility sales hit a record high as Detroit finally passed its recreational ordinance. With revenue expected to continue to grow, now is a great time to buy a marijuana facility.
“Next year it will be well over a billion. I don’t think there is any challenge there. Next year, maybe in a year and a half, I think he’ll go from about $1.2 billion to $1.3 billion. Based on economic analysis, we will eventually reach 3 (1 billion), but it could take 2-3 years to get there.
Municipalities Allowing Recreational Marijuana
Andrew Brisbo, MRA Director, by comparison, Illinois marijuana sales totaled $230 million in 2020. That’s a significant drop from his 2020 total of $440 million in Michigan and California, where he hit a staggering $348 million sales record in July alone.
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Michigan accounts for the second largest medical marijuana market in the nation by revenue. The state also has its fastest growing recreational marijuana market per capita outside of California. California leads both the recreational and medical marijuana market lists. What does that mean?
California tops the list, but Michigan may be a better choice for many “up-and-coming” entrepreneurs. The biggest threat to opening a California pharmacy is competition. First, there is fierce competition from the black market. Marijuana was grown in California before the 1960s. Due in part to California’s proximity to Mexico, the cannabis black market has flourished since the 1960s. Newer legal retailers are being forced to compete with the state’s long-established illegal marijuana suppliers.