Published in Economic Development

Expect waves, not ripples, from Michigan’s cannabis industry

BY MIBIZ STAFF Sunday, August 18, 2019 06:10pm

Don’t expect Michigan’s burgeoning cannabis sector to be a repeat of the state’s booming craft beer business. 

While some have drawn comparisons between the two industries, there will be some distinct differences. The beer business was home-grown and entrepreneur-driven as it grew over two decades into a formidable economic contributor to the state. The incremental changes and growth created ripples throughout the state’s economy, generating new opportunities for firms that make equipment, grow hops and distribute beer. 

The cannabis business, by contrast, appears to be heading in a more corporate direction with established companies and investors from outside the Mitten parachuting in with plans to scale the industry over the next couple of years. As the cannabis business blows up, expect waves, not ripples, of impact around the state.

To figure out where some of those waves will land, we dispatched our reporting team to find out how cannabis will affect the industries and companies they cover. The resulting stories chronicle the many challenges, opportunities and risks on the horizon as Michigan becomes the first state in the Midwest to fully embrace cannabis.

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Read 6843 times Last modified on Monday, 19 August 2019 09:17