EAST LANSING, MI – People looking to break into Michigan’s medical marijuana industry would need to come with a lot of capital, per recommendations issued by the Bureau of Medical Marijuana Regulation made public on Tuesday.
The Medical Marijuana Licensing Board is charged with issuing licenses to businesses interested in creating facilities like dispensaries and grow operations under a 2016 law that authorizes them. Part of the law requires the board to ensure applicants have financial ability and experience, along with the means to operate and maintain a medical marijuana facilities.
At its Tuesday meeting, Andrew Brisbo, director of the BMMR, told the board the Department of Licensing and Regulatory Affairs was proposing potential licensees have start-up capital in the following amounts as part of the licensing process:
Grower class A (500 plants) — $150,000
Grower class B (1,000 plants) — $300,000
Grower class C (1,500 plants) — $500,000
Processer — $300,000
Provisioning center — $300,000
Secure Transporter — $200,000
Safety compliance facility — $200,000
Top image: © Marko Bukorovic | Dreamstime.com
Source: Cannabis Business Times