Michigan’s cannabis industry has gone through some growing pains: What to expect in 2023
Posted By: Detroit Free Press on January 9, 2023. For more information, please click here to read the source article. Michigan’s still-young legalized recreational cannabis industry went through some growing pains last year. Prices of marijuana products rapidly declined and, as a result, cannabis companies struggled to survive. At the same time, some of those companies continued to innovate, […]
‘Unprecedented’ $10M cannabis hospitality project planned in Muskegon
Posted By: MiBiz on November 7, 2022. For more information, please click here to read the source article. A group of Michigan and Chicago-based entrepreneurs are developing a one-stop cannabis destination in Muskegon that would include a growing and processing facility, dispensary, consumption lounge, outdoor venue, restaurant and bar. The $10 million Fields Cannary project would be […]
80,000 marijuana plants will fill West Michigan grow facility once complete
With phase one complete, the first marijuana plants are expected to start growing in a week at 305 Farms. The 44,000-square-foot building in Lawrence’s industrial park will house 2,500 marijuana plants for 305 Farms. The facility held a grand opening Monday, March 15. A final inspection should happen in the next few days, and then plants are […]
Public cannabis companies making headway in maturing Michigan industry
As Michigan’s cannabis industry grows, it’s drawing in more giants of the business: publicly traded companies. Historically, many public companies and those with complex ownership structures were skipping Michigan or choosing to invest indirectly through licensing agreements, lending relationships or real estate. Getting a marijuana business license here meant turning in piles of paperwork for […]
Construction firm, cannabis company partner on new commercial development on GR’s west side
Construction Simplified plans to move and expand its offices in Grand Rapids in preparation of eventually growing its presence across the country. The construction firm is currently located at 895 W. Fulton St. on the city’s west side. It has a development agreement with John McLeod, co-founder and head of new markets for Cloud Cannabis Co., to […]
Lake Trust Credit Union, other financial institutions wade into Michigan cannabis banking market
As the cannabis industry continues to expand in Michigan, there are a limited number of options for the businesses to put their money while their business is still illegal at the federal level. But that is changing. Nearly $125 million worth of recreational cannabis was sold statewide in September, up from $60 million the same […]
Chris Webber to build up to $175 million cannabis compound in southwest Detroit
Chris Webber, an NBA Hall-of-Famer, former University of Michigan basketball star and Detroit native, broke ground Tuesday on the first phase of an estimated $175 million cannabis-focused development in southwest Detroit. Webber, a 48-year-old cannabis investor, plans to run industry job training through his partnership with West Coast lifestyle brand Cookies, as well as grow cannabis at […]
Whitmer signs letter calling for passage of pot banking law
Ahead of possible action by the U.S. Congress, Michigan Gov. Gretchen Whitmer is one of nearly two dozen governors pushing for legislation to reform marijuana banking laws. Whitmer and a bipartisan group of governors sent a letter on Monday to leading lawmakers in Washington, D.C., urging passage of the Secure and Fair Enforcement (SAFE) Banking […]
Cannabis firm with Toledo connection growing like a weed
An Illinois company that opened the Toledo area’s first medical cannabis dispensary and owns a cannabis production plant in North Toledo is expanding its local operations to include a marijuana growing facility to augment its Ohio supply chain. Green Thumb, Inc., of Chicago is investing $25 million for the growing facility on Jason Road in […]
Michigan’s $1.3B Cannabis Market Draws $25M Growing Facility in Madison Heights
Innovative Industrial Properties Inc., the first real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis industry, today announced it closed on the acquisition of a property located at 29600 Stephenson Highway in Madison Heights (halfway between 12 Mile and 13 Mile roads). The purchase price for the property was […]
Cannabis Provider Green Peak Innovations Expands Across Michigan
Green Peak Innovations in Lansing, a vertically integrated cannabis operator, today provided an update regarding the company’s COVID-19 response, second quarter performance, and plans for growth across Michigan. Jeff Radway, co-founder and CEO of Green Peak, says the company has remained fully operational throughout the COVID-19 pandemic as cannabis cultivators, processors, and retailers were deemed […]
Holistic Industries to build $20 million medical marijuana grow, retail facility in Madison Heights
A Washington, D.C.-area cannabis company, Holistic Industries, plans to build a $20 million Michigan headquarters in Madison Heights. The company aims to redevelop the vacant former Fairlanes Bowling hall property near 12 Mile Road and I-75, according to a news release, and build a 65,000-square-foot medical marijuana center for growing, processing and retail. It expects […]
LivWell Michigan to Open Cannabis Cultivation, Processing Facility in Warren
LivWell Michigan, a licensee of Colorado-based LivWell Holdings, will lease a 156,000-square-foot industrial space in Warren where it will operate a licensed cannabis cultivation and processing facility upon completion of redevelopment. The property was purchased for $19 million by and leased to LivWell by San Diego’s Innovative Industrial Properties. LivWell is expected to invest up […]
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