Regulation of medical marijuana could generate millions for state

Capital News Service
LANSING — Medical marijuana could generate up to $63.5 million in revenue for Michigan, according to a recent study. Hillsdale College economist Gary Wolfram’s analysis shows how a proposed regulatory framework for medical marijuana could boost the economy by getting more patients registered for medical marijuana and allowing more forms of use. “In 2008 medical marijuana became legal in Michigan,” said Wolfram. “This analysis is a matter of what would happen if it was regulated and taxed.”

The analysis estimates that 10,000 new jobs could be created in the industry. “These jobs will include everything from growing the plant to jobs behind the counter,” Wolfram said.