Kentucky Governor Andy Beshear this week provided an update on economic development including news on his state's medical cannabis progress.
The Kentucky Medical Cannabis Program began accepting applications for cannabis business licenses July 1, 2024. The application period closed on Aug. 31. In total, the program received 4,998 applications for medical cannabis business licenses. It added that 88 percent of the applications were received in the last four days of the licensing period.
The vast majority of the applications were for dispensary licenses while more than 500 applications were for various cultivator tiers.
Kentucky.gov
The Office of Medical Cannabis said it is currently reviewing applications and remains on track to issue licenses in 2024. The office is increasing staff to review the influx of applications. The processors and cultivators’ lottery will be held earlier than the lottery for dispensaries. More information on the lottery for license category will be announced soon.
“When we launched this program, our goal was to ensure that our licensing process was transparent and provided everyone a fair shot at being a part of this new, exciting industry,” said Gov. Beshear. “Today, the results are clear. The incredible interest in this process, especially among Kentuckians, is proof that this program has met that goal and is set up for success now and moving forward.”
Kentucky.gov
