Entrepreneurs looking to get in on the business side of Illinois' new medical marijuana program are facing fierce competition. The state has come out with numbers showing just how much.
Illinois' Medical Cannabis Pilot Program, as it's officially called, is just that. A pilot. As in, not permanent. And it's designed to strictly limit who will be eligible to buy and use marijuana as medicine.
It's already proving to be a burgeoning business. But Illinois has strict limits that will prevent everyone who wants to from getting in on the program.
One hundred fifty nine applications were submitted by those interested in growing cannabis. Spokeswoman Melaney Arnold says the state will award 21 licenses. Illinois received 214 applications for dispensaries, but only 60 will be chosen.
Arnold says it'll be up to two panels, made of experts in policy, legal issues and horticulture, to decide.
"Some of the things the applications will be scored on include a security plan, a business and operations plan, looking at record keeping, and inventory, a financial plan, as well as having some bonus categories," Arnold said.
Arnold says selections should be made before year's end.
Seven businesses submitted applications to become dispensaries in Illinois State Police District 8. That includes Marshall, Peoria, Stark, Tazewell and Woodford Counties. Seven also submitted applications for dispensary licenses.
