The state of Minnesota’s Office of Cannabis Management has unveiled plans for an expedited “pre-approval” licensing round, focusing solely on adult-use social equity applicants. From July 24th to August 12, 2024, aspiring cannabis business owners that meet the State’s social equity applicant requirements can apply for pre-approval through a lottery system. Here’s what you need to know and how you can get involved:
Breaking Down the Application Process
Ready to dive into Minnesota’s cannabis scene? The social equity application process isn’t just about filling out forms—it’s about showcasing not only your passion and commitment, but a solid set of operational plans. You’ll need to provide personal details, outline your business plan, and demonstrate your understanding of regulatory requirements. Before any of this can occur, don’t forget to verify your social equity credentials with the State—it’s a key factor in getting pre-approved. In fact, you will not get pre-approved for an adult use cannabis business license in Minnesota without receiving official confirmation of social equity status through the State’s to-be-announced verification process.
A Chance for Social Equity
Minnesota’s cannabis law defines social equity applicants by specific criteria to promote fairness and inclusivity. Eligibility includes previous cannabis convictions, family ties to convictions, military service, residency in disadvantaged areas, and involvement in farm operations. Starting June 24, 2024, verify your eligibility through the Office of Cannabis Management’s online system to join Minnesota’s equitable cannabis market.
What Comes Next?
After the pre-approval phase, general licensing applications for cannabis businesses are set to open sometime in 2025. Minnesota opted for this phased approach as a way to ensure that the State’s adult-use cannabis market is built equitably and sustainably, one step at a time. Local governments will also play a role in certifying compliance with zoning and safety codes, ensuring a smooth integration of new businesses into neighborhoods.
The Time is NOW!
Excited about the prospect of joining Minnesota’s cannabis revolution? Now’s the time to start preparing. Stay ahead of your competition. Contact Canna Business Services for support in preparing your application for an adult-use cannabis business in Minnesota today!
