Michigan regulators released detailed instructions on how businesses can apply for adult-use cannabis licenses beginning Nov. 1.
There are no statewide caps on licenses for a market expected to launch next year, but municipalities can restrict the number.
Marijuana Business Daily projects Michigan could generate $1.4 billion-$1.7 billion in annual sales within several years of the launch.
But the numbers may depend on how many municipalities opt-out.
Nearly 1,000 of the state’s 1,773 communities have at least for the time being decided to ban retail stores in their areas.
License types for those that don’t possess a medical marijuana operating license include:
- Social consumption establishment
- Safety compliance facility
- Marijuana event organizer
- Temporary marijuana event
For those with an MMJ operating license, there are grower, processor, retailer and transporter licenses available.
Michigan’s Marijuana Regulatory Agency will use a two-step process:
- “Establishment licensing” involving strict vetting
There is a $6,000 nonrefundable application fee for the main applicant, which is the entity or the individual seeking to hold the state license.
Social-equity applicants qualify for reduced fees.
Applicants seeking grower, processor or microbusiness licenses must pass a Bureau of Fire Services plan review.
For more details on the application process, click here.