Licensed medical marijuana businesses in Oregon are worried that a surge in dispensary applications will further crowd an already-saturated market.
The state has received 411 dispensary applications since voters legalized recreational marijuana in November, according to the Associated Press. Of that total, 51 were filed since the start of July when lawmakers passed a bill that would allow dispensaries to start selling limited amounts of recreational marijuana on Oct. 1.
That bill has yet to be signed by Gov. Kate Brown.
With more than 300 dispensaries already open in Oregon, licensing more would only add to a glut that’s caused three storefronts to shut their doors, the AP reported.
Many hopeful entrepreneurs likely aren’t aware of the abundance of dispensaries in Oregon as the tide of license applications has accelerated.
The state received just 203 applications for dispensaries in the six months prior to the legalization of recreational cannabis in November.
The Oregon Liquor Control Commission is still working on rules for the state’s rec industry and how it will approach MMJ busineses.
The first recreational shops are expected to open in the second half of next year.