Michigan set a brand new month-to-month report for marijuana gross sales in July, reaching practically $210 million, in response to knowledge printed by the state Hashish Regulatory Company (CRA) on Thursday.
The state noticed $21,121,711 in medical hashish gross sales and $188,818,744 adult-use marijuana purchases final month. That complete is about $15 million better than the earlier month-to-month report set in April.
Shoppers set a brand new Michigan hashish gross sales report in July with practically $210,000,000 in marijuana product gross sales — $21,121,711 in medical and $188,818,744 in grownup use.
— Andrew Brisbo (@AndrewBrisbo) August 11, 2022
Many of the marijuana purchases for each medical and leisure use had been for flower merchandise, adopted by vape cartridges.
The data additionally exhibits a continuation of a gross sales pattern in Michigan’s marijuana market, with medical hashish purchases dipping and adult-use gross sales growing. The primary leisure outlets opened in Michigan in December 2019.
In the meantime, Michigan regulators just lately introduced that they’re issuing one other spherical of grants to help analysis into the therapeutic advantages of marijuana for navy veterans, utilizing tax {dollars} the state generated from adult-use hashish gross sales.
This time round, CRA introduced that it has really useful awarding $20 million in grants to 2 universities as a part of the Veteran Marijuana Analysis (VMR) Grant Program.
Michigan officers additionally introduced in March that the state could be distributing practically $150 million in marijuana tax income, divided between localities, public colleges and a transportation fund.
The state Treasury Division mentioned that the funding—made attainable from tax income generated from the state’s adult-use hashish program—contains $42.2 million for 62 cities, 15 villages, 33 townships and 53 counties.
That’s greater than 4 occasions the extent of funding that the state paid out to municipalities with hashish tax {dollars} final 12 months.
All informed in 2021, Michigan noticed $1,311,951,737 in marijuana gross sales for adult-use and $481,225,540 for medical hashish. In December alone, there have been greater than $135 million in leisure hashish purchases and about $33 million in medical marijuana gross sales.
Regulators additionally introduced earlier this 12 months that the they authorized the state’s first-ever social consumption web site for adult-use marijuana in Hazel Park. It stands to motive that, as that sector of the marijuana trade grows, much more tax income might observe.
Michigan isn’t the one state that’s seeing vital marijuana gross sales and dealing to place the ensuing tax {dollars} to good use.
For instance, Illinois retailers bought greater than $135 million price of adult-use marijuana in July, the biggest month-to-month gross sales complete to date in 2022 and the second largest month since gross sales first launched, the Illinois Division of Finance and Skilled Regulation (IDFPR) just lately introduced.
New Jersey noticed about $24 million in leisure marijuana purchases throughout its first month of gross sales earlier this 12 months.
As of mid-Could, Massachusetts adult-use marijuana gross sales formally surpassed $3 billion because the market launched in 2018, officers mentioned.