Chart: Startup costs for wholesale marijuana cultivators

Eli McVey  | May 22, 2017

By Eli McVey

Typical startup costs for wholesale cannabis cultivation businesses launched in the last three years amount to $42 per square foot, according to a Marijuana Business Daily survey of executives in the industry.

Week in Review: Washington organic marijuana, PA liquor stores & Minnesota red ink

Omar Sacirbey  | May 19, 2017

By Bart Schaneman, Omar Sacirbey and John Schroyer

Washington state signs off on an organic marijuana certification program, Philadelphia’s mayor says state-run liquor stores should handle recreational sales, and Minnesota’s two medical cannabis businesses bleed red ink.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Maryland awards first medical marijuana cultivation license

John Schroyer  | May 18, 2017

The Maryland Medical Cannabis Commission gave final approval to the first company to win a cultivation license under the state’s MMJ program.

The announcement Wednesday comes nine months after the state revealed 15 preliminary license winners, underscoring the slow rollout of Maryland’s medical cannabis program.

ForwardGro, based in Anne Arundel County to …

Two Florida universities get initial OK to grow hemp for research

Bart Schaneman  | May 11, 2017

A pair of universities in Florida would be allowed to grow and cultivate industrial hemp under a bill passed by state lawmakers.

Once the governor signs Senate Bill 1726, the University of Florida and Florida Agricultural and Mechanical University will be authorized to enter a pilot project to research the …

Recreational marijuana legalization drive launched in Michigan

Bart Schaneman  | May 5, 2017

Marijuana proponents have launched a 2018 ballot drive to make Michigan the ninth state to legalize the use and sale of recreational cannabis and the first in the Midwest to do so.

The Coalition to Regulate Marijuana Like Alcohol submitted petition language Friday. It plans to soon begin collecting signatures once the Board of State Canvassers approves the …

Marijuana REIT to invest up to $15M in Maryland cultivation site

Bart Schaneman  | May 5, 2017

Innovative Industrial Properties, a cannabis-focused real estate investment trust (REIT), said it has agreed to purchase a partially developed property in Capitol Heights, Maryland, and plans to invest up to $15 million in a medical cannabis cultivation facility there.

The building on the site, once completed, is expected to total about 72,000 square …