New York Taking Applications for Medical Cannabis Business Licenses

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Entrepreneurs can now apply for medical cannabis business licenses in New York, kicking off a process that is expected to be one of the most competitive in the country.

The state’s health department is now accepting applications for five licenses that will allow companies to grow and sell medical marijuana. Officials plan to choose winners in the coming weeks and register companies for medical cannabis production beginning in July, according to an NBC affiliate.

Many observers estimate that it will cost $1 million or more to navigate through the licensing and tens of millions of dollars to start up their companies. Those selected will be able to cultivate medical cannabis and open up to four dispensaries apiece, for a total of just 20 dispensaries in the entire state.

Final rules for the industry were released this month and include a $10,000 application fee for every company that wants to be considered, along with a $200,000 registration fee for each of the five winners.

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5 comments on “New York Taking Applications for Medical Cannabis Business Licenses
  1. Lawrence Goodwin on

    Thank you, Marijuana Business Daily, for covering events in the Empire State, my home for most of the last four decades. This is positive news, but New York is merely instituting Marihuana Prohibition Lite. It should be noted that cannabis business opportunities in New York are being severely restricted by the paranoia and micromanagement of state officials, who eviscerated entire sections of the Compassionate Care Act before that law was passed in early summer 2014. No eligible patients anywhere in New York will be able to legally obtain dried cannabis flower–by far the most popular form of product in “legal” medical states. It’s not clear at all what types of products will be made available to patients or when. As long as politicians are allowed to thusly dictate what parts of cannabis plants–or compounds within them–patients can be prescribed, many observers say it will be virtually impossible for any type of legitimate cannabis market to grow in New York.

  2. scott giannotti on

    The only beneficiaries of NY’s MMJ Program will be the state. The people are left out to monetize and receive their medicine. Only those already with one foot in the grave will get access to cannabis, meanwhile the whole point of cannabis as a medicine is prevent us from getting to that point.

  3. dana gignac on

    of course ny state is not only a neanderthal as far as their thinking but also a criminal organization look who is governor

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