Georgia Medical Marijuana Market
Medical Marijuana Expansion in Georgia
Qualifying patients in Georgia have been able to use cannabis oil with up to 5% THC since 2015, but the law did not permit buying, selling, or transporting the oil. Georgia has finally made it legal for companies to produce and distribute low-THC oil, and for patients to obtain these low-dose medical marijuana oils legally.
We expect the state to issue a “Request for Applications” (RFA) for medical marijuana cultivation licenses before the end of 2019. In this first round, up to 6 cultivation licenses will be awarded to private companies seeking to grow medical marijuana in Georgia. We anticipate the new Georgia Access to Medical Cannabis Commission that has been formed — but not yet set up — will release applications for medical marijuana dispensaries in 2020.
Well-capitalized entrepreneurs who want to apply for a medical marijuana license in Georgia should start putting together a financial model and business plan now, which will help position them to raise capital, secure property, win local approval, and recruit potential team members. These preparatory documents are crucial to inform investors and are also necessary in the eventual license application.
Contact our cannabis consultants today to discuss what you should be doing now to be properly positioned to win a highly competitive medical marijuana license in Georgia.
Cannabis Business Guidance in Georgia
Georgia's developing medical marijuana program will be highly competitive and will require significant amounts of capital to enter this first round of licensing. We can help you sort through the new regulations, educate you on the market conditions and opportunities, and begin developing real goals and plans. Bob Wagener, our VP of Business Development, shares more insights about getting started in new states here.
Get prepared in advance for the state’s RFA to open a licensed medical marijuana business in Georgia. Contact us now to start your Financial Modeling, Opportunity Assessment, Business Plans, Facility Design Concepts, and Learning Sessions with our Subject Matter Experts.
Market Conditions in Georgia
Georgia implemented a low-THC oil cannabis program back in 2015 through “Haleigh’s Hope Act”, which made low-THC cannabis oil legal to use by patients with certain medical conditions. However, it was still illegal to produce, grow, or sell cannabis products in Georgia, leaving patients without options to obtain their medicine legally.
New legislation has been approved that allows the production and distribution of cannabis oils with less than 5% THC. The new state-appointed commission will be responsible for overseeing and implementing regulations for the state’s medical marijuana program. Dispensaries will not be allowed to operate until the commission approves licenses. Pharmacies in Georgia can apply for a specialty license through the State Board of Pharmacy to sell medical marijuana oil to registered patients.
Smoking and vaping marijuana is still illegal in the state of Georgia. Marijuana oil with less than 5% THC is the only type of product permitted to be produced, and approved delivery forms are oils, tinctures, transdermal patches, lotions, or capsules.
Entrepreneurs who are interested in getting into the Georgia medical marijuana industry should start their pre-license positioning now to get ahead of the competition. Contact us today to develop plans for your Georgia cannabis business.
Stay up-to-date on cannabis legalization in Georgia
Cannabis legalization is changing rapidly. The cannabis consultants at Canna Advisors can help develop your business from the ground up. For the latest news and events in the industry, visit our Blog and News and Events pages, and have a look at some of the following top articles on medical marijuana in Georgia.
"Medical marijuana oil sales signed into Georgia law" - Atlanta Journal-Constitution
"Finally, Georgia can grow medical marijuana. Here’s what you need to know." - Atlanta Magazine
A smarter, more strategic approach to Georgia cannabis business licenses
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