With the authorization of the first set of medical marijuana licenses, Michigan has opened the state to what is expected to become a $700 million market
The licenses granted were mainly for dispensaries with the understanding that the businesses will not be operational until next month.
So far, seven licenses were issued, but no of them were for testing facilities, this means marijuana cannot be tested or sold yet.
Andrew Brisbo, director of the state’s Bureau of Medical Marijuana Regulation, has expressed his excitement for being able – finally – to award the first set of licenses.
“We’re excited that we’ve actually approved the first license, so we can move forward, and we continue to work with the testing labs who are close in the process to try and get them licensed as well.”
He added that the department will continue to work with the testing facilities so that they can begin to license them.
“We’re aware of the fact that not having a licensed lab presents a challenge for the other types of facilities, so we’ll work with them closely on how to proceed. I think we’ll have a few up at the August meeting for consideration by the board.”
Sixteen businesses were given preliminary approval by the board, but still have to receive approval from their local communities before they are awarded a final license, however, some applicants were denied and others were delayed.
Dispensaries were reminded that all products must go through the testing process before they can be sold.
In addition, all businesses awarded a license must pay the regulatory assessment of $48,000 per license before they can begin to operate.[share-btn]