After many legislative delays, Mississippi finally approved medical cannabis back in February 2022 and has quickly rolled out their program. Since June, Mississippi has been accepting cannabis license applications and has already awarded 16 cultivation and processing licenses. Find out more about what you need to know to get in on the ground floor of the new medical cannabis industry in Mississippi!
In Mississippi, there are 5 license types that are managed by the Mississippi Department of Health: cultivation, processing, waste disposal, research, and testing. Each license type has a one-time fee, and an annual fee. License categories and fee structures for cultivation are based on how large the facility is and how much cannabis is being processed there. For these license types, the fees are significantly lower than dispensary licensing fees. Each individual may apply for one cultivation license and one processing license, and up to 5 dispensary licenses.
This category of licenses is evaluated and awarded by the Mississippi Department of Revenue, and is shaping out to be more competitive. When the portal opened in July, they received over 100 licenses in the first hour alone, according to Ken Newburger of the Mississippi Medical Marijuana Association. Application submission has since slowed down, but creating a stand-out, robust application will be critical to compete in this category specifically. One hurdle many applicants face in this category are the zoning requirements – dispensaries must be 1,500 feet from each other and 1,000 feet away from schools and churches. Finding an appropriately zoned property should be an applicant’s top priority!
Your Next Steps To Take
Your top priority should be selecting the type of license you’d like to pursue. The best way to determine which type of cannabis license is most feasible is to read the regulations for each license type. To begin your application, you need to register for the portal and complete background checks, documentation, and business plan information. The turnaround time for notification for applications is fast – only 30-days – so your business could be up and running by the end of 2022!
To be one of the first to enter the cannabis space in Mississippi, contact Canna Business Services for a free 15-minute consultation to ask your licensing questions and start your cannabis business plan today!