24 New Cannabis Dispensary Licenses In Rhode Island
A New Era of Adult-Use Cannabis Expansion in Rhode Island
In May 2022, Governor Dan McKee signed the Rhode Island Cannabis Act into law, legalizing adult-use cannabis. By December of that year, sales had begun. Since then, the market has flourished, with October 2024 seeing $8 million in recreational sales out of $10 million total cannabis sales.
Currently, only nine hybrid dispensaries operate across Rhode Island’s cannabis market, serving both medical and adult-use customers. Over two years after legalizing adult-use cannabis, the state is preparing to issue twenty-four (24) new dispensary licenses. This is a pivotal opportunity for entrepreneurs and businesses looking to make their mark in a rapidly growing market. Here’s what you need to know to get started.
The Cannabis Application Process: What to Expect
The Rhode Island Cannabis Control Commission (CCC) has announced plans for a qualified cannabis license lottery. Here’s how it works:
Step 1: Merit-Based Screening
Applicants will need to submit comprehensive license applications, including business and operational plans, financial projections, and other requirements yet to be finalized. Only screened and qualified applicants will enter the lottery pool.
Step 2: License Lottery Selection
Licenses will then be randomly awarded to qualified applicants. While there’s no guarantee, submitting a strong application is critical to entering the lottery.
Limited Cannabis Licenses Across Six Zones
The 24 licenses will be distributed across six geographic zones, with each zone allocated four licenses:
- Zone 1: Burrillville, Cumberland, Glocester, North Smithfield, Smithfield, and Woonsocket
- Zone 2: Central Falls, Johnston, Lincoln, North Providence, and Providence
- Zone 3: Coventry, Foster, Scituate, West Greenwich, and West Warwick
- Zone 4: Cranston, East Greenwich, North Kingstown, and Warwick
- Zone 5: Charlestown, Exeter, Hopkinton, Narragansett, Richmond, South Kingstown, and Westerly
- Zone 6: Barrington, Bristol, East Providence, Jamestown, Little Compton, Middletown, Newport, New Shoreham, Pawtucket, Portsmouth, Tiverton, and Warren
Focus on Social Equity and Workers’ Cooperatives
Each zone reserves one license for social equity applicants and another for workers’ cooperative applicants. While exact qualifications for social equity applicants remain unclear, factors may include residency in disproportionately impacted areas, hiring practices, or personal/family history of cannabis-related arrests.
How to Prepare for the Rhode Island Cannabis License Lottery
Securing a Rhode Island cannabis license requires thorough preparation. Successful applications often include:
- Business Plans: Clear strategies for operations, growth, and compliance.
- Financial Projections: Evidence of financial readiness and sustainability.
- Compliance Documentation: Plans aligned with state and local regulations.
Begin Planning Now with Rhode Island Cannabis Experts
Whether you’re an established operator looking to expand or a new entrepreneur entering the cannabis space, the time to act is now.
From securing property to crafting investor-ready business plans, preparation is key and with our help at Canna Advisors, you’ll be well on your way to opening a successful cannabis business. Our East Coast cannabis expertise is unparalleled over decades.
Reach out to our consultants or book an hourly consultation to get started on your Rhode Island cannabis application.