Marijuana Business Factbook 2019

155 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. State-By-State: Legal Overview, Market Data and Outlook | Chapter 2 MJBIZDAILY.COM What to watch in 2020 The medical marijuana program performed well in 2019, but Rhode Island’s 52 licensed growers allege that the market is unfair because it favors the state’s three dispensaries. That prompted regulators to add six additional dispensary licenses, applications for which should be released in early 2020. Gov. Gina Raimondi is proposing to legalize recreational cannabis, though state Senate leaders say they won’t support it. Marijuana Business Opportunity Rank for 2020 B While current cannabis businesses in Rhode Island struggle to compete against untaxed home grows―which appear to be extremely active in the state―there are roughly 7,000 patients per dispensary at this time (the greatest ratio of dispensary to patients in the country). Increased access to dispensaries may well drive many current and additional users to purchase in stores rather than growing at home. The proposal to add six more vertically integrated licenses could yield more business opportunity in the state, but it may come at a cost to existing stand-alone growers. A 2019 change in rules raised the dispensary licensing fee from $5,000 to $250,000―and the latest budget proposal released by lawmakers would increase the fee to $500,000. That’s a significant increase that may impact an existing business’ bottom line.