Nevadans Scramble For Medical Marijuana Dispensary Licenses
Last legislative session, lawmakers passed a bill that allows medical marijuana dispensaries here in Nevada. We could see some of those dispensaries open their doors by this fall.
It won't be easy to get your hands on a license, though. Just to get started, it will cost $5,000 for a non-refundable application fee and it's tens of thousands of dollars more from there.
"The people who wrote this bill and all the way down to the county and city levels have come out and said they want people to seek out help," said Adam Bierman, a consultant for The MedMen.
The MedMen is working with about a dozen clients in Nevada that are preparing to submit 400-500 page requests to the state for licenses this May.
Because the legislature decided a limited number of licenses will be awarded, Bierman said this will be an incredibly competitive market. "Right now, there are no dispensaries or cultivation facilities licensed by the state, but what has started is the application process. The state is going to award up to 66 marijuana dispensary licenses. The state will probably award somewhere around 200 cultivation licenses."
Once those licenses are issued, business owners will need a place to sell. That means empty, blighted buildings around town could soon be full of cannabis buying customers.
Bierman said he's already hearing from property owners. "Oh, I've had vacant property for two years and I've had six people come look at it for pot this week, so it's definitely happening up here now."
That's great news for commercial real estate and we all know there's plenty of it available around here, but could medical marijuana really be the catalyst, reinvigorating a recession ravished economy?
When taken off the black market and taxed, is it truly the ticket to a more prosperous financial future?
Bierman said yes to all the above.
"In total, there will be thousands of jobs created, but that's just within those businesses. It's also important to understand all the lawyers that are getting paid, you have the real estate professionals that are helping people find places, you have the landlords that are getting traction again, it's an entire economic boom."
You can watch the entire interview on my weekend show Face the State.
The show airs Saturday at 3:30pm and Sunday at 6:30am and 4pm.
Wednesday, July 23 2014 5:44 PM EDT2014-07-23 21:44:54 GMT
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