Despite reports of declining prices for recreational marijuana in the state, area communities with retail cannabis stores have received hefty tax revenue from the businesses.
According to the Michigan Department of Treasury, the city of Belleville received $58,228.66 from the only licensed dealership in the community. Inkster, with seven licensed businesses, received a whopping $407,600.62 while the City of Wayne received $232,914.64 from the four licensed marijuana outlets in that city. Westland, with one outlet, will receive $58,228.66 from 2004 reported marijuana sales, according to reports from the state. The state issues revenue sharing to each community in the amount of $58,228.66 for each licensed distributor in the municipality.
The local distribution is a portion of the $100 million the Michigan Department of Treasury has rebated to local communities across the state.
The funds provided by the state can be used for various community needs, including public safety initiatives, infrastructure improvements, and municipal services.
Reports from a report from the Michigan Cannabis Regulatory Agency, the average retail price for an ounce of recreational marijuana dropped to $65.21 in February, a nearly 30 percent drop from the $91.94 reported in February of 2024. Authorities said the sale price to growers continues to decline since recreational sales began in 2019.
Total marijuana sales, according to the state reports, have dropped significantly, even though the total volume of sales reported was higher, due to the price decreases.
Officials said marijuana sales usually decrease in January and February and the total sales numbers across the state are expected to increase this month and in April when the 4/20 holiday is celebrated. An increase is also expected from summer tourism in the state, officials said.
There are currently 50 cannabis distribution centers in the state, according to official reports and Michigan is the largest market in the country, based on units of the drug sold. That number is increasing, according to a recently reported from Leaflink, a wholesale cannabis seller.
Michigan has the highest sales per resident compared with all other states where recreational marijuana is legal. In Michigan, surveys found that each resident is spending about $327 for the drug while the national average sales per resident in $97.
Michigan surpassed $10 billion in cannabis sales in January since legal sales began in the state, according to news reports.
