Kentucky Receives Nearly 5,000 Medical Cannabis Business Applications
Kentucky Gov. Andy Beshear (D) stated this week the Kentucky Medical Marijuana Program has acquired 4,998 purposes for medical hashish enterprise licenses, WHAS11 experiences. State officers are planning to carry a lottery in October to pick out this system’s licensees.
“Once we launched this program, our aim was to make sure that our licensing course of was clear and supplied everybody a good shot at being part of this new, thrilling trade. Right now, the outcomes are clear. The unimaginable curiosity on this course of, particularly amongst Kentuckians, is proof that this program has met that aim and is about up for achievement now and transferring ahead.” — Beshear, in his weekly Staff Kentucky Replace release
Of the almost 5,000 hashish license purposes the state has acquired, 4,076 are for dispensary licenses — nevertheless, the state will solely award 48 such retail licenses, which means lower than 1% of the retail candidates will get a license. The remaining purposes break down as such:
- 239 purposes for a Tier I Cultivator license
- 190 purposes for a Tier II Cultivator license
- 155 purposes for a Tier III Cultivator license
- 333 purposes for a Processor license
- 5 purposes for a Security Compliance Facility license
Based mostly on the variety of purposes, Kentucky has earned almost $28 million in medical hashish license utility charges, with simply dispensary purposes accounting for greater than $20 million, the report stated.
The enterprise license utility interval for this system began July 1 and ended final weekend after a “large flood” of last-minute purposes, in keeping with the governor.
“We’re simply going to have some challenges getting by way of these whole variety of purposes, doing it proper, guaranteeing that the method is honest, getting by way of the lotteries and getting up and operating,” Beshear stated.
The Kentucky Medical Marijuana Program was established through an government order signed by the governor in 2022.
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