Maryland Accepting Applications for 1st Round of New Cannabis Business Licenses
Marijuana Industry News November 15, 2023 MJ Shareholders
Maryland’s cannabis sales figures are showing signs that the state is on pace for a $1.1-billion market for 2024, and so far, only the state’s medical cannabis licensees have been serving the adult-use market that launched July 1, 2023.
The Maryland Cannabis Administration (MCA) is now accepting applications for the first round of new cannabis business licenses. Regulators announced a 30-day application period will run from Nov. 13 through 5 p.m. Dec. 12.
The MCA will issue up to 179 licenses, distributed as follows:
- 75 standard dispensaries, distributed by county
- 16 standard growers, distributed by region
- 32 standard processors, distributed by region
- 24 micro growers, distributed by region
- 24 micro processors, distributed by region
- 8 micro dispensaries, distributed by region
This first application round is reserved exclusively for social equity applicants, and the Maryland Office of Social Equity released the eligibility requirements for the social equity program in September. To qualify, an applicant must have at least 65% ownership of the business and must have lived or attended public school in an area disproportionately impacted by cannabis prohibition or attended a four-year institution of higher education in Maryland where at least 40% of students enrolled were eligible for a Pell Grant.
The MCA opened a Social Equity Verification Portal in September that offered additional information about social equity applicant eligibility requirements and allowed applicants to confirm their eligibility, but the portal is now closed, according to the administration’s most recent announcement.
An individual applicant can only be associated with one application per license type and no more than two applications within a given round. Applicants are prohibited from applying for the same license type in two different regions.
In addition, while applicants may apply for both a standard and a micro license, state law bars the MCA from awarding both license types to the same applicant.
All applicants who meet the minimum requirements for licensure will be entered into a random lottery based on license type and county or region. Maryland law requires the MCA to conduct the licensing lottery by Jan. 1, 2024.
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