Recreational herb pays off for Greater Lansing
THURSDAY, March 4 – Nearly $ 10 million in taxes on recreational marijuana sales last year goes back to more than 100 communities across Michigan this week – including about $ 600,000 for three local government units in Greater Lansing.
This week, revenue-sharing payments for more than $ 340 million in statewide retail sales of recreational cannabis tracked in 2020 were sent to cities, counties and communities. That included $ 280,000 for Lansing, $ 308,000 for Ingham County, and $ 28,000 for East Lansing.
The money was also distributed to 94 other local governments from a combined pot of $ 45.7 million in excise taxes and royalties levied by the state last year, resulting in a local government income of approximately $ 28,000 for each licensed retail store or business Equivalent to micro business across Michigan.
In a statement, Lansing Mayor Andy Schor said “safe, professional” pot shops in Lansing have helped boost the economy and put vacant buildings and storefronts back on the tax list for the Covid19 pandemic.
City clerk Chris Swope estimates that licensed pot shops in Lansing have also invested more than $ 85 million in property improvements and have employed more than 2,400 people to date – all with jobs that pay at least $ 16 an hour and services in the Include healthcare and retirement planning.
The official project for next year will increase as companies build more facilities over the next few months. Andrew Brisbo, the executive director of the Michigan Marijuana Regulatory Agency, predicted the market could top $ 3 billion in the next few years.
Aside from the nearly $ 10 million in disbursements to local governments, approximately $ 11.6 million went to the School Aid Fund for K-12 Education and another $ 11.6 million to the Michigan Transportation Fund. The remaining $ 12.5 million will cover government administration costs.
Visit Michigan.gov/revenuesharing for more information on adult marijuana tax distributions. including a breakdown of how much parishes and counties received.