At Least 300 MMJ Business License Applicants in New York

There’s apparently no shortage of interest in New York’s cannabis industry.

So far, at least 300 would-be cannabusinesses have lined up to submit a business license application and a corresponding $10,000 non-refundable fee to the state health department, according to the New York Post. The application period runs until May 29, so that number could easily double.

Those hundreds are competing for just five permits to grow, process and dispense medical cannabis in the state, and each of the five will be allowed to open at least five dispensaries (though advocates say the law allows for the health commissioner to increase that number).

The five winners will also have to pony up another $200,000 for the licenses.

10 comments on “At Least 300 MMJ Business License Applicants in New York
  1. Mount Zion collective on

    10k non-refundable fee from 300 people for 5 licenses? PLUS an additional 200k!! Only the wealthy and connected benefit from such schemes…a big win for big business, big government, and business as usual…

    Reply
    • skyhigh on

      Preach! What a scam….it’s evident all NY is thinking about is the money and creating a monopoly for their friends that get a license.

      Reply
  2. Dr. V on

    I can’t say that I don’t understand where the comments above are coming from. The license process in NY is extremely difficult but the intentions of the Compassionate Care Act are good. If applying for a license in NY’s medical marijuana program is costly, it is that way for a reason and that reason has little to do with discrimination or favoring big business. Having lived in a state with one of the largest medical cannabis programs, patients get a bad deal with a lot of bad actors and little to no regulation with regard to quality control. Ultimately I welcome NY’s decision and with time my Empire state will figure it out and have one of the best medical cannabis markets in the country. Until then, it would be in the best interest of the public following such an epic and historic event unfold in NY if MJBiz and the NYPost actually fact checked information before disseminating it. As someone who is actually trying to make a difference in the lives of patients in NY that would benefit from medical cannabis, I am actually working for a company applying for a license. Contrary to what has been reported, in order to submit an application you need to send in $210K at the time of submitting ($200K is conditionally refundable if your application is denied). Applicants must also submit five proposed sites or submit and additional $2 million bond. No mistaking this… The process is expensive but will ultimately benefit the people of New York by ensuring that individuals who know what they are doing get the program off on the right foot. Again, it is unfortunate that the process is so expensive and will inadvertently keep a lot of qualified and good people out of the process.

    Concerned CannaDoc,
    Dr. V

    Reply
  3. Tucker on

    I agree with Dr. V. Yea, the program makes $3Mil just on the application process. But that is needed to help fund the entire process. I think it’s a great idea and eliminates the business’ that are casual interested.

    Reply
  4. skyhigh on

    Let’s be honest 95% of the people with that kind of capital don’t know squat about growing marijuana so i have to disagree with your argument.

    Reply
  5. Souzza on

    Actually sky-high have you ever heard of a loan? The federal government cleared banks to work with people wanting into the MMJ business, not everyone involved are rich people!

    Reply
    • skyhigh on

      Actually I have lol, but maybe you need to update yourself because last I checked the banks were still closing people’s accounts. Now maybe if you are one of the lucky few you might be able to get a loan and not have your account closed.

      Reply
  6. Mountzioncollective on

    Dr. V

    What evidence do you have from the history of economic markets that MONOPOLIES benefited the consumer? They only benefit the elite wealthy few who have the cash and connections, these companies have no interest in this plant or in patients, their only thinking of $$$$

    Reply
  7. mikeinnyc on

    The application fee should now be refundable. In New York City we call this stealing! Foreigners or foreign jurisdictions should be paying the 10,000 bucks but New Yorkers should be getting a fair shake.

    They knew…crooks.

    Reply

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