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CLEVELAND – The potential economic impact of legal weed is a major factor Ohio voters must consider when deciding on the legalization of recreational marijuana this year. In this “Marijuana in Ohio” Reporting on the situation in Michigan, we went there to see what was happening with tax revenue. Plus, we show Ohio’s plans and those that oppose it altogether.

Dylan Steiner said, “It creates employment and gets money flowing through for the State as well.” He is a regular marijuana user in Michigan and is happy to see the legal recreational marijuana continues to expand in the state. Steiner said that the products that are being sent in are “crazy” and “you wouldn’t expect them.”

NEW BUILDS, USING OLD SPACE

Wally Manju is a dispensary owner who sells these products. Nature’s Remedy Ferndale, MI. Manju said, “The investment is already there.” “We redeveloped our entire site to build new construction. We wanted to ensure that people saw something different…an improved real estate.”

Other cannabis operations have taken control of industrial and commercial buildings which haven’t seen much use in a while.

“And that is a problem for Michigan and Ohio.” “You know, the term Rustbelt is not a term without a reason, right?” said Michigan lawyer Brett Gelbord, Who specializes in employment law and the cannabis industry. “Currently, over 33,000 people in the cannabis industry are employed statewide. These are good jobs. They’re good-paying jobs.”

In Michigan, tens and tens millions of dollars in marijuana tax revenue are distributed to local governments. Tens of millions go to school districts. Tens of millions of dollars are going to Michigan roads.

MI MAYOR AND MANAGER WEIGH INS

Hazel Park, MI, said, “Every city, every municipality, and even counties, are struggling to pay their bills, particularly with the rate of inflation.” Mayor Mike Webb. He said the marijuana money is used to pay for police, firefighters, and other city workers. “It has helped us…pay for our pension programs…shore-up our pension obligations to former employees who retired here.”

In Ferndale, MI City Manager Joseph Gacioch The cannabis tax money is deposited into the general fund. During COVID the city’s tax system was in flux and it was nice to have the marijuana money.

“It turned out to be a very useful backfill for offsetting some of these disruptions, these economic disruptions,” Gacioch said.

Michigan’s cannabis sales totaled $1.8 billion last year. This year, the projected sales are $3 billion. With a 10% tax, this would mean $300 million in revenue.

Some dispensaries are located near the border between Michigan and Ohio, where a large number of people from Ohio come to visit.

Kevin Brojek, a co-owner of the company, said that between 50 and 60 percent of its customers are from Ohio. King of Budz In Ferndale. The company also has a store located in Monroe.

Is Ohio missing out?

Tom Haren said that the sale of marijuana to adults has been successful almost in every state. He is the spokesperson for Coalition to Regulate Marijuana like Alcohol. He told us that 25% of the money from the Ohio cannabis sales tax would go to drug-prevention, 36% for municipalities that allow marijuana sales, and 36% for something called the Social Equity and Jobs Fund. Applicants with a social disadvantage or economic disadvantage may be eligible for special consideration. “There will be 50 dispensary licences and 40 new cultivator licences issued with a priority to social equity applicants,” Haren said.

But not everyone is in agreement that Issue 2 is an excellent idea.

Mark Romanchuck, a state senator, said: “It is a bad deal for Ohioans.” He is from Northeast Ohio and he sits on the Senate Finance Committee.

IS 10% SALES TAX SUFFICIENT?

He and other legislators have stated that Issue 2 only benefits“A few greedy investors” and that a sales tax of 10% is too low, are “pitiful,” Because the money raised will not counteract the social costs of legal marijuana.

He said that the Social Equity and Jobs Fund is not going to Ohio, but back to the cannabis industry.

“When the industry writes the laws and rules, they will do it in a manner that benefits them,” said he.

The Social Equity and Jobs Fund encourages diversity hiring and will also study criminal justice and bail Reform.

“White people and people of color use pot at the same rate, but we know enforcement falls disproportionately,” Haren said.

Senator Romanchuck said, “If we want to help people, I believe putting some of this money into education, food insecurity, housing, or other areas would be a better way to spend it.”

The following are some of the ways to get in touch with each other Ohio State University Study In the fifth year after legalization, tax revenues on marijuana sales in Ohio could range from $276 to $403 millions.

Next week, we will be bringing you much more information from our series “Marijuana In Ohio”, so that you can have all the info you need to vote on Issue 2 before you go to the polls.

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