West Virginia Medical Marijuana Market
West Virginia Scoring First Round of Medical Marijuana Licensing Applications
The vertical integration and banking slowdowns that were holding up the rollout of West Virginia’s medical marijuana program have cleared. The state announced the first round of medical marijuana licensing applications in November 2019 with a short 60-day timeframe to complete — license winners should be announced in the Fall of 2020.
West Virginia plans to award 10 Cultivation, 10 Processor, and 100 Dispensary licenses. This application process will be highly competitive, and we predict the winners will be robust, experienced teams that are well-capitalized. Vertical integration is allowed and favored in this process, likely resulting in 10 large companies with 1 cultivation, 1 processor, and several dispensary licenses each.
Cannabis Business Guidance in West Virginia
Taking the time to put together a financial model and business plan now will help position you to raise capital, secure properties, win local approval, and recruit potential team members.
Market Conditions in West Virginia
West Virginia's medical marijuana law went into effect on July 5, 2017, but the first round of licensing applications wasn't released until December 19, 2019.
A spokeswoman from the Department of Health and Human Resources admitted that it could take two to three years before medical marijuana is available for patients to purchase, meaning more waiting for those who need access to natural medicine.
Stay up-to-date on medical marijuana in West Virginia
Cannabis legalization is changing rapidly. Our cannabis consultants can help develop your medical marijuana 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 West Virginia.
A smarter, more strategic approach to West Virginia medical marijuana licenses
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