The cannabis business application is Lathrup Village's first opportunity to gain economic benefits. Lathrup Village can set the application fee and also set up the application to benefit businesses that provide additional economic benefits to the city, such as park improvements or profit sharing.

Under Michigan law, cities receive the Marihuana Retailers Excise tax revenue of 10% of retail sales. According to a report from the Michigan Department of Treasury from February 29, 2024, more than $87 million in excise tax revenue was distributed to 269 communities across the state. The Department of Treasury reported that the average Michigan cannabis business received $59,086.35 for the fiscal year 2023. With 2 cannabis businesses, Lathrup Village could receive around $118,000 in excise tax revenue on a yealy basis.

Successful businesses often attract other businesses, bringing further economic benefits to the city. New businesses often mean new jobs, so cannabis businesses can also provide potential employment opportunities for residents who are 21+.