A recent study of the potential fiscal impacts of legalizing marijuana in Michigan found that passage of Prop 1 would generate over half a billion dollars in additional revenue for the state in the first five years of implementation.
Much of the revenue generated from marijuana would be directed to Michigan’s roads, schools, and local communities, which are currently underfunded.
The report, conducted by marijuana policy consulting firm VS Strategies, made predictions based on a model that drew upon analysis of multiple data sources. By 2023, the study predicts that total annual marijuana sales will exceed $800 million in Michigan.
Read the detailed findings of the analysis here.
Tags: Coalition to Regulate Marijuana Like Alcohol, Election 2018, marijuana legalization, Michigan, Michigan marijuana legalization, Michigan Regulation and Taxation of Marihuana Act, Proposal 1, tax and regulate