Kentucky Gov. Andy Beshear (D) said this week that the Kentucky Medical Cannabis Program has received 4,998 applications for medical cannabis business licenses, WHAS11 reported. State officials plan to hold a lottery in October to select licensees for the program.
“When we launched this program, our goal was to make the licensing process transparent and give everyone a fair chance to participate in this new and exciting industry. It's clear: The incredible interest in this process, especially among Kentuckians, is proof that this program has achieved its goals and is poised for success now and in the future. ” — Beshear, in weekly Team Kentucky update release
Of the approximately 5,000 cannabis license applications received by the state, 4,076 are for dispensary licenses. However, the state will only award 48 such retail permits, meaning less than 1% of retail applicants will receive a permit. The remaining applications are categorized as follows:
239 Tier I Tiller License Applications 190 Tier II Tiller License Applications 155 Tier III Tiller License Applications 333 Processor License Applications 5 Safety Compliance Facility License Applications
Based on the number of applications, Kentucky earns about $28 million in medical marijuana license application fees, with dispensary applications alone accounting for more than $20 million, according to the report.
The business license application period for the program began July 1 and ended last weekend due to a “high volume” of last-minute applications, according to the governor.
“There will be some challenges in processing this total number of applications, getting them done correctly, ensuring a fair process, getting them through the lottery and getting them up and running,” Beshear said.
The Kentucky Medical Marijuana Program was established by an executive order signed by the Governor in 2022.
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graham abbott
Based in Portland, Oregon, Graham is the editor-in-chief of Ganjapreneur. He has been writing about the state of legalization since 2012 and has contributed to Ganjapreneur since its official launch in 2014.
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