VT taking prequalification applications for recreational marijuana businesses

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Vermont regulators have begun taking prequalification applications from would-be cannabis cultivators, product manufacturers, retailers and others as the state readies for recreational marijuana sales to start in the fall.

As of midday Tuesday, the state had received 427 prequalification applications, with 66 of those for a retail license, the Associated Press reported.

Here are the upcoming dates for the license application process to begin:

  • Small growers and testing facilities: April 1
  • All cultivators: May 1
  • Product manufacturers and wholesalers: June 1
  • Retailers: Sept. 1

James Pepper, chair of the state’s Cannabis Control Board, told the AP that it will take some time for the Vermont market to establish its supply chain, as cannabis takes months to grow, process and test.

The prequalification application process involves a criminal background check as well as potential administrative and civil law adjudications.

Insurers and financial institutions prefer to work with applicants who are prequalified, according to Pepper.

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The MJBizCon team is now accepting speaker applications for the 2023 event in Las Vegas.

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Pepper told the AP that the regulatory board plans to begin approving prequalification applications at its April 4 meeting.

The 2021 MJBiz Factbook projects annual adult-use sales in Vermont of $145 million by the program’s fourth year.