COLDWATER, MI (WTVB) – A perfect storm is brewing that could have a devastating effect on the marijuana industry in Michigan, and in particular Branch and surrounding counties.
Nick Young Instructor of Marketing at Western Michigan University, says although all the attention recently has centered around the 24-percent excise tax that will go into effect in January the industry is facing several other challenges that include over production
Another factor is a new Ohio law that makes it illegal to transport Michigan cannabis across the state line, Young also says the state is poised to lose millions of dollars in business from Indiana.
Young says all of these factors are already having an impact on the industry, and the end result will be the loss of thousands of jobs.
Young added some of the biggest investments of marijuana industry were in our area due to the proximity to the Indiana and Ohio boarders therefore are on the hook to lose the most.
And the City Council is STUNNED!