Ohio Medical Marijuana Market
The Canna Advisors team has been active in Ohio since legislation was passed in 2016
Will 2023 be the year for adult-use legalization in Ohio? State lawmakers have until May 3 to adopt a voter-led proposal. Otherwise, adult-use could be headed to the ballot in November.
Ohio started accepting medical marijuana license applications in June 2017, but license awards and implementation have proceeded slowly and with delays. The first state-licensed medical marijuana dispensary opened in January 2019, and the number of centers continues to increase.
Now is the time for entrepreneurs and business owners to lay the groundwork to be successful in Ohio. Canna Advisors has assisted clients in 38 states. Those that put in the most preparation submit the best applications.
Contact us today to discuss how we can assist with your Ohio medical marijuana business.
Cannabis Business Guidance in Ohio
Ohio could eventually become one of the largest medical cannabis markets in the U.S., once it matures. Be prepared for the growing cannabis market in Ohio.
While there are many opportunities to win Ohio cannabis licenses, the licensing fees are steep and state entrepreneurs need to be well-capitalized.
Starting your business plan, facility design, and financial model early is essential for success in a market that is expected to be extremely robust and competitive. Canna Advisors’ early work in the state positions our team well to navigate the developing market and advocate for favorable industry conditions. Talk to our cannabis consultants about capitalizing on opportunities in Ohio.
Market Conditions in Ohio
Gov. John Kasich signed a bill into law in June 2016 that allows medical marijuana use in the form of edibles, oils, patches and vaporizing by patients with 21 specified medical conditions. Patients and their caregivers are allowed possession of up to a 90-day supply of medicinal marijuana. Smoking and growing medical marijuana for personal use at home is not allowed. Over 48,000 patients have registered since the state began accepting applications in 2018.
The state intends to award up to 56 dispensary licenses, but not even half that number are operating yet. 24 cultivation licenses and 40 processor licenses are permitted by law, and there is no limit to testing lab licenses.
The Ohio market is shaped by a dense population and an increasing percentage of residents consuming cannabis. The list of qualifying medical conditions is liberal, yet the conservative state medical board is not promoting the program to the state’s physician base, and zoning restrictions are tight. These potential bottlenecks are offset by a state legislative focus on developing a comprehensive and efficient program.
Ohio Medical Marijuana Industry Projections
Registered medical marijuana patients (2019)
Compounded annual growth rate
Source: "The State of Legal Marijuana Markets" by Arcview Market Research/BDS Analytics, 7th Edition.