by: Kyle Mitchell on https://www.woodtv.com
GRAND RAPIDS, Mich. (WOOD) — The number of cannabis retailers has soared as more locations open in Michigan.
Growing competition, especially from major corporations, has led to a more challenging business environment.
Smaller, locally-owned operators like Pharmhouse Wellness in Grand Rapids have noticed the change, according to Founder and CEO Casey Kornoelje.
“Competition is increasing right now,” Kornoelje said. “What we’re seeing is the approximate 30 licenses that were issued — at least in the city of Grand Rapids — slowly beginning to evolve and open up.”
The business has recently invested in cultivating its own product through a new grow site.
Pharmhouse Wellness was recognized as the state’s first gold qualifier on Wednesday. The business won the new Social Equity All-Star Program award presented by Andrew Brisbo, the executive director of the state’s Cannabis Regulatory Agency.
Part of the businesses program included projects like planting trees and other improvements to the neighborhood working with local partners.
“We’ve been able to give back approximately ($200,000 to $250,000) into neighborhood development and beautification efforts,” Kornoelje said.
The head of the CRA said the agency is focused on helping communities disproportionately impacted when marijuana was illegal in the state.
You can view the whole article at this link Oversaturation concerns grow in Michigan cannabis industry by: Kyle Mitchell on https://www.woodtv.com
