24 Companies Apply for Florida CBD Licenses

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Looks like Florida didn’t have a shortage of CBD business applicants after all.

Two dozen companies submitted applications by the Wednesday deadline for the five licenses up for grabs to cultivate, process and sell high-CBD, low-THC medicine, according to state health department officials.

Some observers worried that the state would be lucky to get even five applications since the barriers to entry are extremely high. The industry is restricted to horticultural growers that have been in business for at least 30 years and have the capacity for a minimum of 400,000 plants.

License winners are expected to be announced on Aug. 8, and those selected will then be responsible for growing and selling high-CBD medicine.

The state will dole out one license for each region of the state.

Six applications are targeting the northeast region of the state, four the northwest region, five the southeast region, six the southwest region, and seven the central region. Four companies applied for licenses in more than one region.

Given the state’s heavy requirements, applicants are established botanical businesses and nurseries specializing in other types of agriculture or flowers, as opposed to dedicated cannabis companies. For example, McCrory’s Sunny Hill Nursery, which applied for a license in the central region, describes itself as “one of the largest bromeliad growers in Florida” on its website.

Some specialize in orchids or other types of ornamental plants.