Michigan’s $10 Billion Cannabis Boom: Insights On Building A Thriving Industry
Michigan is on the brink of achieving a milestone as one of the nation’s most dynamic cannabis markets: $10 billion in total sales within just five years of legalizing recreational marijuana.
In a recent Politico interview by Paul Demko, Brian Hanna, executive director of Michigan’s Cannabis Regulatory Agency (CRA), credits this growth to balancing regulatory oversight with adaptability to the evolving needs of the industry.
Driving Record Sales While Cutting Costs
“We’re breaking sales records every quarter, but that’s just a piece of the story,” Hanna explained. “At the end of the day, we’re trying to adapt with the industry, learn what should be regulated, and what cuts we can make to save businesses money.”
One example of such changes is the CRA’s decision to eliminate mandatory lobbies for cannabis retailers—a seemingly minor adjustment that significantly reduces operational costs for businesses.
Hanna noted that the agency has prioritized open communication with stakeholders. “We’ve been working on new rules since May of 2023. We got a lot of feedback, hundreds …