Businesses across Michigan have been suffering throughout the pandemic, but there’s at least one industry in Michigan that is reaching new highs. Recreational marijuana sales have been skyrocketing a year into Michigan’s legalized pot market. Between December 1 of last year and November 22 of this year, the industry has sold over $400 million worth of marijuana to recreational consumers.
Listen: Michigan’s pot industry skyrockets amid COVID-19
Dustin Walsh covers economic issues for Crain’s Detroit Business and wrote a piece in Crain’s this week titled “Beyond budding: One year in, Michigan recreational pot market keeps growing.” Walsh says despite the impact of the COVID-19 pandemic, the early days of the recreational marijuana market in Michigan seem to be an economic success. “The rollout has been going really smoothly despite some rocky beginnings… and there’s no question we’re reaping the benefits of a new industry,” says Walsh. He says the sales show that people are embracing the sales of marijuana on the legal market. “People certainly have jumped on board and the demand has been very high and will likely continue to be high for at least another year,” says Walsh.
This post was written by Clare Brennan