skip to Main Content
Homegrown? Marijuana business hopefuls in Missouri competing with country’s largest pot retailers

ST. LOUIS — The hungriest competitors for state licenses to open marijuana businesses in Missouri are from other states, records show.

Out-of-state companies, including some of the nation’s largest retail marijuana chains, submitted the highest numbers of applications for licenses to grow, process or sell marijuana for medical purposes in Missouri.

Because of the financing and regulatory know-how required to start a marijuana business, some locals are concerned that ownership of the industry — expected to top more than $100 million in sales by 2025 — will disproportionately go to firms outside Missouri.

“There are rich men in suits coming from all over this country with bags full of cash,” said Richard Rodriguez, a St. Louis restaurant owner who applied to open a dispensary in south St. Louis. “I’m all for competing in a fair playing field. But that’s not what appears to be happening here in Missouri.”

Missouri became the 33rd state to legalize marijuana for medicinal purposes after 65% of voters in November approved Amendment 2, starting a stampede of business owners looking to capitalize on the new market. They include first-time entrepreneurs and family-owned businesses from a wide array of backgrounds. They also include prominent lawyers, people with ties to state politics, and business executives in other industries in addition to large marijuana retailers from other states.

The state has raked in a total of more than $13 million in nonrefundable fees — $6,000 per dispensary or processing license, $10,000 per cultivation license — from 2,163 marijuana business applications filed by at least 700 different groups. [Read More @ The St. Louis Post-Dispatch]

 

 
This Post Has 0 Comments

Leave a Reply

Your email address will not be published.

Recent Stories

Switzerland Has ‘Laid The Groundwork For Its Medical Cannabis Industry To Flourish’ And Could Soon Be Exporting ‘Very High-Quality Flower’

LAST week Switzerland became the latest in a string of European countries to relax its restrictive access to medical cannabis for both patients and businesses. Although the country has one of the oldest medical cannabis schemes and most developed CBD industries, patient numbers appear to have been in decline for nearly half a decade, as…

Advanced Nutrients Reorganizes for the Future

Founded in 1999 by CEO Michael “BigMike” Straumietis, West Hollywood, California-based Advanced Nutrients has been a staple of the cannabis industry for as long as there has been an identifiable industry. Straumietis is not called BigMike for nothing, of course. He is a large man who built his business up to become an omnipresent fixture…

Recreational pot in Florida? State’s largest medical marijuana operator files constitutional amendment for 2024 ballot

TALLAHASSEE — Trulieve, the state’s largest medical-marijuana operator, and country-music legends The Bellamy Brothers are backing a proposed constitutional amendment that would allow recreational use of marijuana by people 21 or older. The proposed amendment was filed Monday at the state Division of Elections, with Tallahassee-based Trulieve contributing $5 million to the effort to get…

Five Cannabis Corporate Governance Mistakes

By Griffen Thorne, Attorney at Harris Bricken Many folks in the cannabis industry – especially legacy operators – have little to no experience with corporate governance. I don’t mean to say that they don’t know how to run a business; they likely do. What I mean when I refer to corporate governance is the actual…

More Categories

Back To Top
×Close search
Search