- Plans for Binational Electric Vehicle Corridor Announced
On Tuesday, May 16, the United States and Canada announced plans to launch a binational electric vehicle corridor stretching from Kalamazoo, Michigan, to Quebec City. The corridor will include fast EV chargers approximately every 50 miles along the 872-mile route.
Why it Matters: In announcing the plans, officials said the plan would increase domestic manufacturing, strengthen supply chains and create jobs while supporting climate and alternative energy transportation goals.
- Michigan Cannabis Sales Surpass $245 Million in April
Cannabis sales peaked over $245 million in April, via the monthly report from the Michigan Cannabis Regulatory Agency. Michigan adult-use sales came in at $238,211,384.43, while medical sales came in at $7,842,858.60, altogether totaling $246,054,243.03.
Why it Matters: Marijuana sales remain strong in Michigan, particularly for recreational use. However, there still are significant concerns about profitability and market over-saturation that the industry is contending with.
- May 24 Business Education Series
During this two-presentation dynamic program, attendees will learn about the SBA 504 Loan from Coty Gould with the MCDC (Michigan Certified Development Corporation), and Government Contracts from Mike Hindenach with APEX (formerly known as PTAC Procurement Technical Assistance Centers).
Why it Matters: The SBA 504 Loan presentation you will learn the basics of SBA 504 loan, the benefits and how to qualify and apply. MCDC is a non-profit certified by the US SBA to administer the SBA 504 Loan Program in Michigan. The SBA 504 loan provides small businesses with low-rate, long-term loans for building purchases, construction, and machinery and equipment. In addition, these loans require a smaller down payment than what traditional lenders can offer, allowing the business owner to preserve capital. Learn more and to register.
- Fraser Trebilcock Welcomes Paula C. Spicer to the Firm
Fraser Trebilcock is pleased to announce the hiring of attorney Paula C. Spicer who will work primarily in the firm’s Lansing office.
Why it Matters: Ms. Spicer joins Fraser Trebilcock with expertise in complex real estate and commercial transactions, property tax appeals, health care facility formation, business operations, zoning law, and structuring of high-complexity laboratory facilities. Ms. Spicer also worked as an attorney in multi-family affordable housing financing through HUD (Housing and Urban Development). Learn more.
- CRA Publishes April 2023 Data, Average Price Hovers
Per data released by the Cannabis Regulatory Agency, the average retail price for adult-use sales of an ounce of cannabis is $87.76, a small increase from $86.87 in March. This is still a large decrease from April 2022, where the average price was $133.19.
Why it Matters: While the prices of cannabis and cannabis-related products continue to decrease and make consumers happy, growers on the other hand are seeing profits decrease resulting in them seeking ways to halt new licenses to be granted in an effort to steady prices. Contact our cannabis law attorneys if you have any questions.
Related Practice Groups and Professionals
Energy, Utilities & Telecommunication | Mike Ashton
Business & Tax | Paula Spicer
Cannabis Law | Sean Gallagher