The Maryland Medical Cannabis Commission has awarded two dispensaries final licensure to begin selling marijuana in the state. They mark the last licenses that can be approved this year.
These additions bring the industry total to 71 licensed medical cannabis dispensaries, out of the 102 pre-approvals doled out more than two years ago. Despite business owners and the medical cannabis commission working as quickly as possible, 31 dispensaries remain in the preliminary phase of company building. Some have faced delays in finding suitable real estate in their respective districts, while others are awaiting final inspections before they can be cleared to open.
The remaining unlicensed firms have missed out on the first full year of sales in the industry, in which more than 10,800 pounds of flower and 729,309 cannabis-infused products were sold throughout the state. Collectively, those sales generated $96.3 million among cannabis retailers. The sales pace has more than doubled since the first six months of cannabis retailing, in which collective sales totaled about $35 million.
There are currently 14 fully-licensed growers and now 16 processors operating in the state, providing all of the cannabis flower and infused products sold throughout the state.
Click here to read the rest of the article written by Morgan Eichensehr over at the Baltimore Business Journal