Michigan will open up recreational cannabis licensing opportunities to applicants who did not previously hold medical marijuana licenses starting in March.
The move is expected to help the legal cannabis industry in the state compete economically with the illicit market.
According to MLive.com, the state’s Marijuana Regulatory Agency announced that licenses will be made available for:
- Class B and C cultivators.
- Testing labs.
Entrepreneurs wishing to enter the market will now have a lower barrier to entry without having to also be a licensed medical cannabis company.
Another plus: Municipalities that have previously opted not to participate in legal marijuana will now have to an opportunity to allow recreational cannabis.
Recreational sales in in Michigan began last December and have reported $272 million in revenue, according to MLive.com.
The first regulated medical marijuana businesses in the state opened in 2018.