Florida CBD Producers Moving Forward

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It looks like the CBD industry in Florida is moving ahead, regardless of what the state may do on the medical cannabis front next year.

On Wednesday, the five nurseries in the state selected to produce CBD medicine for patients each posted a $5 million performance bond as required by state law. The deadline was close of business that day, and all five made it.

That’s despite – or perhaps because of – the expectation that the industry will grow sizably in coming years, since the legislature plans to consider bills to expand the patient pool and business opportunities. At the same time, United for Care is taking another shot at a broad medical cannabis legalization ballot initiative next year.

Each nursery now has another 65 days to request formal permission from the state to begin cultivation and then must begin dispensing medicine within 210 days of receiving that authorization.