(This story was updated to include a link to the social equity verification site.)
Aspiring Minnesota business owners can start the social equity verification process on June 24, marking the first step toward potentially securing a cannabis business license in the state’s developing adult-use marijuana program.
Once the Office of Cannabis Management (OCM) verifies social equity status, Minnesota entrepreneurs can apply for business licenses when the application window opens July 24, according to an OCM news release.
To qualify for social equity, applicants must either be:
- Veterans.
- New farmers.
- Living in areas with high poverty levels.
- Formerly convicted of possession or selling marijuana.
Business applications must include operating plans, employee training protocols as well as security and industry experience.
License winners will be selected through a random lottery later this year.
Cultivators, mezzobusinesses and microbusinesses will receive first-to-market advantage and could start growing marijuana this fall, according to WCCO, a Minnesota TV station.
Under state law, the following license caps are mandated in the pre-approval process:
- Cultivator: 13
- Delivery: 10
- Manufacturer: 6
- Mezzobusiness: 25
- Microbusiness: 100
- Retailer: 38
- Testing lab: 50
- Wholesaler: 20
Minnesota regulators plan to launch recreational marijuana sales early next year.
