In a deviation from other states, Alabama regulators have designated a state university to score medical cannabis business applications rather than a private company.
The University of South Alabama has been tasked by the Alabama Medical Cannabis Commission to find “professionals to review, evaluate and score” business license applications for the state’s impending MMJ industry, AL.com reported.
The university will assess several business metrics, including:
- Financial ability.
- Business/management approach.
- Operations plans and procedures.
- Facility suitability and infrastructure.
- Security plan.
- Quality control and testing.
- Marketing and advertising.
Prospective evaluators, who will be compensated, are required to have experience in one of the six license categories.
Evaluators are expected to start receiving applications in mid-April, with reviews due by May 26.
Alabama has received more than 220 requests for MMJ business license applications since launching the process Sept. 1.
It’s unclear when sales might begin, but late 2023 is a possibility.
MJBizDaily projects the MMJ market in Alabama could generate $80 million-$90 million in sales in its first year, increasing to $450 million-$545 million in the program’s fourth year.