Michigan marijuana industry changed, but thriving amid coronavirus pandemic
Marijuana Industry NewsMichiganRecreational Marijuana May 25, 2020 MJ Shareholders 0
You can’t currently walk into a Michigan marijuana shop and peruse the shelves, but that hasn’t stopped product from flying off them.
Close to $1 million a day in marijuana flower, vaping oil and edibles is still being sold, despite coronavirus restrictions that limit sales to curbside pickup and delivery.
With approximately $27 million in April sales, the recreational marijuana industry continues its ascent as governments fill their coffers with new tax revenue, despite the coronavirus pandemic and a forced about-face within the industry.
The state experienced a record high in weekly sales, nearly $8 million, during the first week of May.
Since the first recreational sales began on Dec. 1, the industry, now with 106 recreational stores and more than 200 total businesses, has racked up $91 million in sales, which translates to $15.2 million in new tax revenue, between a 6% sales and 10% excise tax.
Recreational marijuana is for now being passed through the windows of parked cars by gloved budtenders and dropped at front porches like delivery pizza.
The young industry seemingly didn’t flinch amid the uncertainty that came when Gov. Gretchen Whitmer issued a stay-home order that halted large segments of the state economy, but allowed marijuana businesses to remain open on a limited basis. [Read more at MLive.com]
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