By Shelley Swearingen | November 5, 2020
On November 3rd, millions of Americans spoke loud and clear: they want legal weed. Five states placed marijuana legalization on their ballots this year, and marijuana won approval in all five state elections.
Montana, Arizona, and New Jersey approved the institution of recreational marijuana markets. Mississippi approved the creation of a medical market, and South Dakota approved the legalization for all various forms of use.
The creation of these new markets means millions of dollars in sales to entrepreneurs as well as a massive influx of tax dollars to local governments. The legalization of cannabis within these states could also have an influence on bordering neighbors.
Here’s a breakdown of projected sales per state:
|State||Population||Projected 1st year sales|
|New Jersey||8,900,000||+ $375,000,000|
|South Dakota||884,659||+ $1,500,000|
Polls have shown historically that most Americans are in favor of legalizing marijuana for medicinal use, but the country is torn more evenly on the issue of recreational use. The results of these elections show that the country is viewing marijuana more favorably than previously.
In Arizona, existing cannabis operators will automatically receive licensure within the recreational market, and an additional 26 licenses will be issued to social equity applicants.
In Mississippi, there is no ceiling on the number of licenses available to cannabis businesses, and these licenses are required to be issued prior to August 15, 2021. That’s a very quick timeline for the creation of a new market.
Montana will require all license holders to be residents, but like Mississippi, there is no limit to the number of licenses to be issued.
New Jersey currently has a robust medical marketplace, and these operators will probably have the first opportunity to apply or be grandfathered in to the new recreational system.
The licensing guidelines within the proposed legislation in South Dakota are vague and will more than likely cause litigation or require further clarification. One clear rule states that municipalities may not ban medical dispensaries, but may limit the number of operations within its borders.
Cannabis Facility Design & Security
It’s safe to assume these states will look to other states for guidance on the design of new compliance and regulation legislation. KL Security has worked with various cannabis companies nationwide of all sectors: craft growers, secure transporters, large scale grow operators, medicinal pharmacies, recreational dispensaries, etc. We have assisted license applicants in multiple states in their architectural and schematic design concepts and application. Whether you’re in the application process or construction planning phase, we are ready and willing to help make your operation successful by driving revenues while maintaining compliance.
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Information has been gathered from sources deemed reliable but not guaranteed and is subject to change without notice. The information contained in this site is provided for informational purposes only.