Want to get into Ohio’s new cannabis market?
Existing Operators Have a Leg Up in the New Adult Use Market in Ohio
According to WVXU’s Douglas J. Guth, Ohio began accepting applications on June 7 for state medical marijuana dispensaries interested in selling recreational products. The Division of Cannabis Control’s website announced the availability of dual-use licenses, enabling existing businesses to expand their operations to include sales to adults aged 21 and older.
The emphasis is on “existing businesses,” as the current phase does not extend application opportunities to the public at large. According to James Crawford, public information officer for the Ohio Department of Commerce overseeing the Division of Cannabis Control, the state plans to assess both patient needs and consumer demand over a 24-month evaluation period before opening up recreational ownership opportunities to aspiring cannabis entrepreneurs.
Upcoming licensing rounds will depend partly on a cannabis social equity and jobs initiative outlined in Issue 2. This program, slated to be created and overseen by the Ohio Department of Development, aims to allocate 40 Level III cultivator licenses, each permitting up to 5,000 square feet of growing space, along with 50 additional dispensary licenses.
Ohio officials have not set a definitive timeline for implementing the social equity program. Instead, they have indicated that they will notify applicants in advance of the application period during which preference will be given to program participants.
Read more from NPR here.