The number of applications for medical marijuana business licenses that Kentucky received almost doubled from 2,650 on August 30, to nearly 5,000 the next day, which was the deadline.
According to the Kentucky Office of Medical Cannabis (KOMC), there has been 4,998 completed applications received for those wanting to enter into the state’s new medical marijuana industry. This includes 4,076 applications for dispensary licenses.
Beginning January 1st next year, licensed dispensaries will be permitted to sell cannabis products to qualifying patients. The state plans to issue these licenses in October via a lottery system. Kentucky will approve up to 48 dispensary licenses, ensuring at least four are distributed among each of the 11 licensing regions. Jefferson and Fayette counties will receive two licenses each, while other counties will be limited to no more than one.
Here is a summary of the applications received so far:
Total: 4998
Cultivator Tier I: 239
Cultivator Tier II: 190
Cultivator Tier III: 155
Processor: 333
Dispensary: 4076
Safety Compliance Facility: 5
On March 31, 2023, Governor Andy Beshear signed Senate Bill 47, officially legalizing medical cannabis in Kentucky, with the law taking effect on January 1, 2025. The Office of Medical Cannabis, part of the Cabinet for Health and Family Services, is responsible for implementing and overseeing the state’s Medical Cannabis Program under KRS Chapter 218B.
Those applying for cannabis business licenses must demonstrate financial stability and cover application fees. Dispensary and processor applicants are required to show $150,000 in available capital and pay a $5,000 application fee. For cultivators, the capital requirements range from $50,000 to $500,000 based on tier, with fees between $3,000 and $20,000.
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