State receives 25 applications for marijuana microbusinesses at launch
Yesterday, applications for marijuana microbusiness licenses in Missouri went live.
By the end of the business day, the state had received 25 applications for Missouri’s first wave of microbusiness licenses.
Comparatively, DHSS received 12 applications during the first 48 hours of the initial medical marijuana license launch in 2019.
So while 25 applications may seem paltry compared to estimates of thousands of potential applicants, the numbers are expected to grow significantly in the closing days of applications.
In 2019, the Department of Health and Senior Services (DHSS) received more than 2100 applications for medical marijuana licenses in total.
While restrictions that limit individuals and entities to a single application each are sure to impact the total number of applications, the lower barrier to apply and a refundable application fee ensure that many who were unable to apply previously will be sure to submit applications to the lottery this time around.
The Division of Cannabis Regulation (DCR) will issue a total of 48 microbusiness licenses in the first round of application and lottery.
These licenses will be distributed evenly, with six microbusiness license applicants being selected within each of the eight Missouri congressional districts. Among the six applicants in each district, two will be awarded microbusiness dispensary licenses, while four will receive microbusiness wholesale facility licenses.
To ensure a fair and transparent selection process, the microbusiness license winners will be determined through a random lottery drawing conducted by the Missouri Lottery. This lottery will be held after the application submission window closes, and all timely and eligible applicants will be included in the drawing. It is crucial for applicants to adhere to the rules and requirements outlined by the DHSS to avoid denial of their applications and exclusion from the lottery.
Applicants must submit their microbusiness applications through the online registry portal within the specified timeframe, between July 27 to August 10.
The application fee is $1,500 but is refundable for applicants who are not selected.
Following the lottery drawing, DCR will review the applications, and approved winners will be issued their microbusiness licenses no later than October 4, 2023.
The Department will announce the results of the lottery drawing on its website, keeping all applicants informed and updated throughout the process.
The microbusiness license initiative presents a unique opportunity for aspiring entrepreneurs, especially those who are economically disadvantaged or who have been, or live in areas, directly impacted by the war on drugs, to enter the rapidly growing marijuana market in Missouri.
As the marijuana landscape continues to evolve, microbusiness license holders will play a pivotal role in shaping the future of Missouri’s marijuana economy.
