In December 2022, “The Department of Health, which regulates the state’s multibillion-dollar medical marijuana industry, released two emergency rules that indicate, in broad strokes, the application process for companies seeking a medical marijuana treatment center license, which permits them to cultivate, process and dispense medical marijuana.”
“State law requires regulators to create four new treatment center licenses for every 100,000 new patients that enter the market. But the state has awarded just one new license through the application process since 2015. With the state reporting more than 776,000 patients as of last week, the state is required to bring 22 additional operators online.”
CannDev is hearing that an announcement will be made during Q1 2023 for Florida to open for new applications.
Florida generated $2.4 billion in legal cannabis sales in 2022, as of September, per BDSA. Currently there are over 400 medical dispensaries in Florida, and 123 municipalities have at least 1 dispensary. This market also has big potential for increased revenues when it goes recreational.
The Office of Medical Marijuana Use has made one thing crystal clear regarding their upcoming MMTC application cycle – their application will favor applicants that are as close to operational as possible. If you are relying on non-binding LOI’s, you are giving up points to your competitors. The OMMU wants to see money in the bank and real estate that has been locked down. This means that organized companies with deep pockets have a significant advantage.
CannDev is working future applicants to assist them in securing compliant retail locations in many FL markets. We currently have locations available in Jacksonville and Fort Myers with more to come.
To review these opportunities please click the link at the bottom of this email.
We are currently focused on the following markets:
- St. Petersburg
- West Palm Beach
- Ft. Lauderdale
- Ft. Meyers
If you’re interested in finding out more and getting first look at the compliant retail deals we secure please click the link below and fill out the form.