Home Uncategorized 427 seek prequalification for Vermont cannabis retail market Lifestyle

427 seek prequalification for Vermont cannabis retail market Lifestyle

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Vermont began accepting prequalification applications from potential marijuana manufacturers, retailers, food manufacturers and others in preparation for the opening of the cannabis retail market this fall.

As of noon Tuesday, 427 had applied for prequalification, including 66 potential retailers, according to James Pepper, chairman of the State Cannabis Control Council. The process of applying for licenses begins later, first for small producers and testing facilities on Friday, for all cultivators – May 1, manufacturers and wholesalers – July 1, and finally for retailers – September 1, according to the council’s website.

Republican Gov. Phil Scott also on Friday also signed a bill setting fees for retailers and cannabis cultivators.

Vermont is among the 18 states and Washington that have legalized cannabis for adults over the age of 21, according to a marijuana policy bill. Twelve states are currently retailing cannabis for adults, the project said.

But Pepper warned that, as in other states, Vermont will need time to develop a supply chain including cannabis producers and testing facilities.

The pre-qualification process involves checking criminal histories as well as courts for civil and potential administrative rights, Pepper said. Since the pre-qualification process was announced, many financial institutions and insurers have been reluctant to talk to anyone who has not passed pre-qualification, he said.

“It also gives us an early picture of the market,” Pepper said.

Pepper said the council will try to prioritize small producers, who will be among the first to apply for licenses starting Friday. The council plans to begin approving prequalification applications at Monday’s meeting, he said.

Communities decide whether they want to have retail operations to sell marijuana within their boundaries. On the Day of the City Assembly in March, more than 25 people approved such measures. This is in addition to the more than 33 municipalities of Vermont, which have already approved retail transactions for the sale of marijuana before the City Assembly Day, according to the League of Towns and Towns of Vermont.

In New England, the first marijuana stores opened in Massachusetts in November 2018 and then in Maine in October 2020.

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