Florida's cannabis licensing dilemma is causing 73 applicants to incur substantial monthly costs as they wait for over 14 months now… Despite recent actions by the governor, 73 applicants are still waiting for the state to award 22 vertically integrated licenses for medical marijuana treatment centers (MMTCs). These hopefuls paid $146,000 in non-refundable fees back in April 2023 and secured multiple properties, including cultivation/manufacturing facilities and ~5-12+ dispensaries. The ongoing delay is causing significant financial strain as they continue to incur tens of thousands of dollars in monthly fees to hold these properties. Is this fair? Share your thoughts on the impact of these delays on entrepreneurs and small businesses. #CannabisIndustry #FloridaCannabis #Quantum9 #CannabisLicensing #cannabis
This happened in 2016 too. We had to sue the state to get them to issue (we won). But in reality, we all knew Ron would not issue prior to the rec vote so hopefully the financial models took this into account.
I would say any investor willing to invest millions in a cannabis business is a fool.
The phrase "good enough for government work" comes to mind. I always laugh when I hear people in cannabis complain about fairness, as if it exists in all other aspects of regulated industry. No, most of it is not "fair," just like life isn't fair.
The Florida DOH of OMMU can’t implement a lottery. It’s mentioned that 73 applicants paid over $146k in 4/2023. If I'm correct, what happened to the 110 applicants who paid a nonrefundable fee of $67,412 for the same 22 licenses in 19? I could be wrong about the year. Michael Mayes It was to help pay for the costs of having a 3rd party company review the applications using a point system. You were not allowed to identify the company's name on the application. You applied by a Number. This was to hopefully prevent litigation that was still ongoing at that time of nepotism I’m hearing people don’t want Adult Use for many reasons. I hope for the best for everyone involved. I don’t have a dog in a fight. But the state continues to take application fees and provide no additional licenses
It’s wild. Like…are there grounds to sue?
No this is not fair. There is no way these businesses can launch when money goes out but nothing is coming in. 😢
Why is there a lottery? Why can’t anyone and everyone sell weed with the same ease as alcohol??
Yep, same. It’s absurd and highly political.
Cannabis, Employment and Business Attorney/Professor
2wTexas applications went in the same day as Florida. No news out of that state either.