In a significant blow to Michigan’s cannabis industry, TerrAscend, a major North American cannabis company, has announced it is ceasing all operations in the state. The shutdown includes 20 dispensaries, among them Pinnacle Emporium in Buchanan, as well as four growing and processing centers.
The sudden exit of such a prominent player has shocked many, especially employees and industry insiders. According to TerrAscend’s Executive Chairman Jason Wild, the move was a strategic decision driven by Michigan’s challenging market conditions. “Michigan is an extremely difficult market,” Wild explained, citing competition and regulatory pressures as major factors behind the company’s departure.
The closure has immediate consequences for workers across the state. A WARN notice filed by the company indicates that more than 230 employees are now without jobs. This includes ten workers from the Buchanan dispensary alone. Fortunately, those affected are represented by the United Food and Commercial Workers (UFCW) Local 951, which is stepping in to offer assistance.
John Cakmakci, President of UFCW Local 951, expressed his concern for the employees caught off guard by the news. “I think the employees are, or were, a little disappointed too, because TerrAscend is leaving the entire state,” he said. The union is now working to support the displaced workers, helping them find new opportunities either within the cannabis industry or elsewhere. “Whatever they need, we’ll be happy to assist,” Cakmakci added.
Industry reactions to TerrAscend’s exit have been mixed. Some believe Michigan’s cannabis market is structurally flawed and difficult to navigate for businesses of all sizes.
The news has sparked concerns that other cannabis companies might follow suit. RJ and Michael, two voices from within the industry, worry this could signal the beginning of a trend. “It could start a trend… There could be some people on the fence, and then seeing somebody with such a big footprint in the state and multi-state doing that—it could follow suit,” they said.
As TerrAscend pulls out of Michigan, the company is shifting its focus to more favorable markets like New Jersey, Pennsylvania, and Ohio. While this may represent a new strategic chapter for TerrAscend, the impact in Michigan is clear: hundreds of workers are now scrambling for new jobs, and the future of the state’s cannabis industry looks increasingly uncertain.
The big question now is whether Michigan can adapt and stabilize its cannabis market—or if more exits are yet to come.
