For the first time ever, Michigan marijuana industry jobs declined over a three-month period. Prices plummeted to another historic low in January, revenue hit a 12-month basement, investment continues to constrict and business expansion has trickled to a drip.
Announcements of multi-million-dollar expansions have given way to press releases apologizing for closures. Has Michigan's once-sparkly marijuana market lost its luster?
Some businesses and workers think so, but customers continue to reap the benefits in a "race-to-the-bottom" market flooded with options and once unimaginably low prices.
Connoisseurs feel quality has suffered. Producers seem laser-focused on quantity -- and potency -- over quality. But that didn't deter marijuana customers, who spent $3.2 billion in 2024. Despite increased consumption, margins are shrinking, putting the jobs of Michigan's nearly 38,000 marijuana employees at risk.
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