MICHIGAN—Cannabis is a pretty big deal in Michigan—and there’s never a shortage of newsworthy headlines from the industry as the state inches closer to becoming the nation’s weed capital.
Here are eight things you need to know this week:
GREEN ECONOMY: Tax revenues from the sale of weed are at an all-time high in Kalamazoo County, with county officials expecting to rake in $1.75 million over the next year. The funding, so far, isn’t earmarked for anything specific. County officials said the cash is set to head directly into the county’s general fund to help support a wide array of public services.
LAWYER UP: Sales statistics show Michigan is now the largest retailer of marijuana per capita, with more than $2.3 billion worth of weed sold in the state over the last 10 months. The industry has also reportedly created a new boon for lawyers who specialize in cannabis.
SWITCH AT SKYMINT: After entering into a receivership in March, Skymint is now under new ownership. An Ingham County judge reportedly approved the sale of the cannabis company—and its 21 dispensary leases—to Canadian lender Tropics LP for $109.4 million.
COLD SNAP: Cannabis sales in Michigan declined for a second consecutive month in September to $276.7 million, stalling from an all-time high of $276.7 million set in July. Compared to this time last year, however, overall monthly sales are still up by about 30%.
CANNA-TOURISM: A growing number of recreational marijuana businesses in Michigan, from outdoor cannabis farms to micro-businesses, are reportedly providing tours to interested consumers that show how cannabis plants are grown, harvested and processed.
CHARGES DODGED: A Michigan man who was accused of growing 1,100 marijuana plants in an unlicensed operation will avoid felony charges after a judge ruled that he should’ve only been charged with a misdemeanor for growing more plants than allowed under state law.
TRIBAL TRADE: Bipartisan legislation that would allow Michigan pot shops to trade with tribal cannabis companies is headed to Gov. Gretchen Whitmer after it passed the House. Officials say the bills will allow tribal cannabis businesses to fully participate in the industry in Michigan, while also requiring they pay the same tax rates as other companies.
DISCUSSING DANK: The South Haven Speakers Series will conclude at 7 p.m. on Oct. 26 with a conversation with Jennifer Rigterink, the point person on cannabis for the Michigan Municipal League. She will discuss the economic impact of the industry in Michigan.
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