Businesses Laying Groundwork for New York MMJ Industry

Despite the fact that New York’s medical marijuana program is still in its infancy – and more than a year away from actually beginning to serve patients – marijuana cultivators are already getting ready to join the green rush.

Businesses from as far away as the West Coast laying the groundwork to enter New York’s MMJ industry on the ground floor.

Terra Tech is one example. The California-based agricultural company is doing its best to guesstimate what kind of regulations New York might establish on marijuana cultivation sites.

Executives with Terra Tech, which has a facility in New Jersey, is keeping a close eye on the regulatory framework developing in other states and modeling its business practices based on those rules. By doing that, the company believes it can get a jump on possible competitors in New York.

Geographic diversity is expected to be a factor in the selection process when the state decides which companies to give business licenses to, and it’s likely that MMJ companies will have to either own or lease property and post a $2 million bond.

Right now, the best guess is the state will issue around 20 dispensary licenses, so competition will be fierce.

2 comments on “Businesses Laying Groundwork for New York MMJ Industry
  1. victoria smith on

    Twenty dispensaries in a state with 19 million people? How does that make sense? Colorado has 5 million people and more than 500 dispensaries. Heck, there are probably more than 20 dispensaries on South Broadway alone. And what happens to prices when supply is much less than demand? Prices stay high and buyers go back to the black market. States restricting the number of dispensaries = fail.

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  2. if on

    its crazy — and it will only allow the large corporations to get involved — as the small bus .. and patients get the short end …..
    its sad — finally a move in a good direction — yet it is only available to the wealthy – this is so evident if large corporations from the opposite coast are throwing money and just gambling just to show how its only for the big guys 🙁 — i mean obviously as crazy as those numbers are — basically 20 super huge corporations will be able to grow and they will be able to branch out within themselves .. a recipe for disaster on a local level — Kind Industries /ny we were going to get involved and would love to — but to put up millions just to get lucky ? — n obviously in ny — u need to be in …. in deep politically …. I hope they realize some change would be god in hind site >> peace my friends

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