Vermont won’t officially open its cannabis business licensing process until April 1, but the state has already received more than 400 prequalification applications from entrepreneurs looking to participate in the adult-use market, which is slated to launch this fall.
As of midday on March 29, 427 business hopefuls had submitted applications for prequalification, according to an Associated Press report.
The official application process opens April 1 for small growers and testing facilities, May 1 for all cultivators, July 1 for product manufacturers and wholesalers, and Sept. 1 for retailers, the news outlet reported.
In January 2018, Vermont became the first state in the U.S. to legalize cannabis through legislation, rather than through a voter-approved ballot initiative.
It wasn’t until October 2020, however, that the state legalized commercial adult-use cannabis sales, promising to get the market up and running by spring of 2022.
Gov. Phil Scott signed legislation March 25 that establishes fees for cannabis cultivators and retailers, AP reported, and Vermont’s Cannabis Control Board plans to start approving prequalification applications at its meeting on April 4, the news outlet reported.
