The Business of Marijuana in Michigan

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Michigan's "green rush" is officially on. Legalized medical marijuana law has opened the gates for a multibillion-dollar industry promising to create economic growth across the state, and entrepreneurs who are interested to stake their claim.

In the eyes of an increasing number of industry analysts, marijuana has become too big to fail. Up nearly 26 percent since 2015, it is one of the fastest-growing industries in the US, according to the ArcView Group Investment & Market Research Cannabis and medical cannabis alone could reach a net worth of $ 5 billion per year by 2020. You can check out online sources to find out about secure marijuana transportation services in Michigan.

By the same year, economists predict the legal marijuana industry could generate up to $ 556 million per year for the state of Michigan. "It can generate significant revenue and jobs," said Dr. Gary Wolfram, a professor of economics and public policy at Hillsdale College. "It will create a strong market that will provide a positive economic impact."

As it stands now, each city in the state to determine whether it will award a medical marijuana license for business in the jurisdiction. There is a fee of $ 6,000 is required with the application for a license, along with a strict list of qualifications applicants must meet.

With the large influx of lucrative opportunities in the cannabis industry, many of which entered the arena require professional guidance to follow strict state laws and municipal regulations which ultimately helps to legitimize the industry.

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