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Oregon Marijuana Business Applications Clock in Far above Predictions

In another sign that cannabis could be bigger business than previously forecast, the Oregon Liquor Control Commission says it received 1,907 recreational marijuana license applications in 2016 — far outstripping a projected 800 to 1,200, the agency said.

Seven hundred sixty-two of those applications were approved as of the end of last week, a big jump from 500 licenses in early December. In that time, the number of licensed retailers went from 99 to 260.

Processors, who have struggled with strict testing and labeling requirements, have been slower to get licensed, but the number in that category was up significantly as well, from 18 to 51.

“Our staff has worked nonstop and with determination to get this industry licensed,” OLCC Executive Director Steve Marks said in a statement. “Working after hours, working weekends, traveling long distances, this team has been flexible in getting this industry licensed, without compromising the trust placed in us to protect the public.”

Oregonians voted for legalization in November 2014, and the state began transitioning toward a regulated recreational market in October 2015 with “early start” rules, which allowed dispensaries to extend sales to adults who didn’t have medical cards. [Read more at Portland Business Journal]

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