Windy City Cannabis opened its first store on W. Jackson St., in April 2021. Mayor Mike Inman is satisfied with the amount of money it brought in during the city’s May 1, 2021 to April 30, 2022 fiscal year.
“We really didn’t know what to expect. For our fiscal year that just ended we had no estimated collection of that tax because we didn’t know what the sales would be,”Inman said.
“It’s good for us, good for the community. At the end of the day, it’s a thriving business it would appear.”
He stated that adult-use cannabis sales in Macomb were fairly consistent over the past fiscal year.
Macomb gets its cannabis tax revenue from two sources: The local 3% cannabis taxes and the state cannabis use taxes. “We share in a slight percentage of that tax that’s collected statewide,”The mayor said.
He claimed that Macomb received more than $500,000 last fiscal year from cannabis tax income, as well as the revenue generated by video gaming and liquor licensing. Those revenues go into the city’s general fund. They can be spent in any way they wish.
Compensation for the loss of other revenue
Inman said the revenue generated from those three sources is helping make up for a loss of some federal funding due to the city’s population decline. The federal government distributes funding for roads, schools, and more based on a community’s population.
Inman stated that Macomb leaders are not happy with the results. 2020 Headcountand plan to apply to the U.S. Census Bureau in order for a special Census.
“We’re still diligent in reaching out to the census bureau and making sure we know when the window (for a recount) is going to open,”He said.
“We don’t believe it’s going to be this year. The first opportunity for us to take full advantage of that would appear to be in the fall of 2023. It makes sense from our past history with special censuses that we have the most students enrolled in the fall semester at Western Illinois University. We know that’s an undercounted population historically.”
Before the 2020 census, city leaders projected Macomb’s population would drop, potentially to as low as 16,000.
The census bureau came up with a lower number of 15,051.
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