In a surprise move, Illinois Gov. Bruce Rauner approved dozens of medical marijuana business licenses on Monday, ending a period of uncertainty over the future of the state’s MMJ program.
Rauner, who has been critical of the program and previously indicated he might delay the entire licensing process, issued 52 of the 60 available dispensary permits and 18 of 21 cultivation center licenses up for grabs, according to a press release from the governor’s office.
Five additional dispensary applications and three cultivation applications are under review. You can view a list of the winners here.
Applicants with the highest scores in each district were granted licenses, so long as they were not disqualified for other reasons. The governor also decided that cultivation applicants can receive up to three permits in different districts, provided they are among the top scorers.
Quinn’s decision to not issue business licenses before he left office in January fueled speculation that Rauner may decide to delay the program indefinitely, and even led multiple investors to back out of MMJ opportunities in Illinois.
The emergence of more overseas cannabis markets offers companies billions of dollars in business opportunities.
Three cheers for a forward thinking governor. Much like the forward thinking directors at South Porte Bank in Marion Illinois. Green industry friendly. This bank will meet the needs of the new industry.
Illinois has made a smart decision.
This is great news! and GreenAML is here to help financial institutions in Illinois service these high risk businesses with specialty policy/procedure/risk assessment and required monitoring for these highly profitable businesses!
There is one problem with the entire Illinois marijuana law. It repeals itself on January 1, 2018. Won’t it be difficult to put this infrastrucure together with less than three years left?