Michigan Communities to Benefit From $341 Million in Marijuana Sales

I bet there are some Michigan communities feeling a bit of regret right now for not allowing recreational marijuana dispensaries to open up.

$341 million in marijuana sales were reported during the 2020 year. A fat chunk of that money will get moved to Michigan's townships and cities, while about $11 million will be distributed to the school aid fund and the transportation fund.

According to Fox 2, the treasury department announced This week that $31 million has been collected from the 10% excise tax on recreational purchases of cannabis. Here's how the money will be divvied up:

• $10 million goes to more than 100 municipalities
• $11.6 million goes to the School Aid Fund 
• $11.6 million to the Michigan Transportation Fund
• $12.5 million will go toward administrative and start-up costs

Think about that for a minute, that's millions of dollars that didn't previously even exist in Michigan. Legalizing marijuana was a pretty smart move for the state and would be even smarter for cities, townships, and villages to get in on the action as well.

MRA Executive Director Andrew Brisbo

The team at the Marijuana Regulatory Agency did a tremendous job getting the adult-use licensing program established and operating efficiently. Infusing over $28,000 per retailer and micro-business into local government budgets across the state is very impactful and shows how strong and successful the industry is becoming.

Since the sales of recreational marijuana became legal in December 2019, more than 175 recreational dispensaries have opened. I'm sure there will be many more to come.

Go here to see what locations were selected and how much money they'll be getting.

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