2024-08-12 16:13:59 +0300

First NOXX Cannabis Dispensary Set To Open In August In Grand Rapids, Michigan

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Benzinga
By Jacinta Sherris

Michigan residents, especially in the Grand Rapids area, have an exciting addition bound to shake up the local cannabis economy.

Noxx Cannabis is launching a retail shop in Grand Rapids in August and plans to open two additional dispensaries and a production facility in Grand Rapids by the end of the year, generating more than 150 new jobs.

Noxxs mission is to bring the best brands, products, and hospitality to Grand Rapids. It aims to encourage everyone to unapologetically embrace the things that make them unique, without fear or judgment. Its goal is to harness the power of cannabis to encourage greater inclusivity.

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We couldnt be more excited to be rolling out our first retail store in Grand Rapids. It is one of the strongest cannabis markets in Michigan, if not the country. Data indicates that Grand Rapids generates approximately 20% of Michigans retail cannabis sales, NOXX Founder and CEO Tommy Nafso said. Grand Rapids has the sweet-spot combination of a strong consumer base with a strong sense of community plus a common-sense pro-business local government which allows us to invest heavily in the market and the community.

Based on June 2022 retail sales of approximately $190 million, Michigan is on track to deliver $2.2 billion in annual retail sales, making it one of the largest cannabis markets in the United States. Legal adult-use cannabis sales generated $16.5 billion in 2021, and this figure is expected to reach over $33 billion worldwide by 2025. Other leading cannabis industry players include Canopy Growth Corp. CGC, Cronos Group Inc. CRON and Tilray Inc. TLRY.

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