Missouri's Small Cannabis Businesses Apply For Licenses, Driving Racial Equity Amidst $529M June Sales Surge

Missouri small businesses seeking entry into the legal marijuana market can now apply for its licenses.

The Department of Health and Senior Services (DHHS)' Office of Business Opportunity is accepting applications for micro businesses from July 27 to August 10, 2023.

See Also: Empowering Cannabis Microbusinesses In Missouri: Amendment 2 Consultants And Show-Me Organics Join Forces

The Application Process

• Two types of licenses are available: wholesale permits for cultivation and manufacturing, and retail-only dispensary licenses.
• Eligible applicants must meet specific criteria, including net worth and income limits, veteran status, or residing in economically disadvantaged areas.
• The selection process will involve a lottery with 16 separate drawings based on congressional districts and license types. Successful applicants will be announced by September 1 with licenses issued by October 4.
• Further rounds of 48 licenses each are planned for 2024 and 2025.

See Also: Missouri's Cannabis Program's Success: The 5 Keys To Follow

According to the latest state data, the industry has already generated substantial revenue, reaching $529 million in sales as of June, reported Fulton Sun.

Racial Equity In Missouri's Marijuana Industry

Meanwhile, there are conflicting views on Amendment 3's equity in the marijuana industry, with State Rep. Ashley Bland Manlove and St. Louis City NAACP president Adolphus Pruitt differing on the effectiveness of the "microbusiness licenses" program.

See Also: Residents Of African-American Missouri Neighborhood May Miss Out On Cannabis Opportunity, Here's Why

Bland Manlove says the program fails to address the existing inequitable business licensing system from the medical marijuana approval in 2018. Pruitt, on the other hand, supports the program and other equity measures. He emphasized the importance of expungements for “leveling the playing field,” as reported by Marijuana Moment.

Don't miss the opportunity to explore the evolving landscape of cannabis laws in Missouri and beyond at the 17th edition of the  Benzinga Cannabis Capital Conference, which is returning to Chicago on Sept 27-28. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Read Next: Missouri Lawmakers Create Pathway For Cannabis Banking Access Amid Federal Talks On SAFE Act

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