How to Open a Cannabis Dispensary in Ohio
Ohio voters may have the power to legalize recreational adult-use cannabis on the ballot this November. This comes after the Coalition to Regulate Marijuana Like Alcohol collected 222,000 signatures to qualify for the election. While the ballot initiative is not completely finalized, state officials must certify at least 124,046 signatures by July 20th in order for the initiative to be placed on the ballot. The proposal gives us a look into the potential future of recreational cannabis regulations including how to open a dispensary and cannabis business in Ohio.
Proposed Ohio Adult-Use Cannabis Regulations
If passed by voters, the initiative establishes the creation of the Division of Cannabis Control (DCC) within the Department of Commerce. The DCC will oversee cannabis regulations in Ohio and will also have the authority to license, regulate, and penalize cannabis operators in Ohio. The DCC is also tasked with creating and enacting a social equity program based on “social and economic disadvantage”, and a certain number of cultivator and dispensary licenses will be reserved for persons that have been disproportionately affected by law enforcement actions related to cannabis.
The current initiative would allow adults 21 years of age or older to purchase and possess up to 2.5 ounces of cannabis, 15 grams of concentrates, and up to six plants per individual. Cannabis products would face an excise tax at the retail level of 10% in addition to normal sales taxes. This excise tax revenue would be dedicated to DCC administrative costs, State addiction treatment programs, social equity and jobs program, as well as a certain amount rededicated to the municipality in which the dispensary is located.
Ohio Medical Cannabis Program
Ohio currently has 370,287 registered patients as of May 2023. There are 92 dispensaries in operation. The program generated $1.37 billion in total product sales through June 26, 2023.
Ohio Cannabis Facts and Figures
Of Ohio’s neighbors, Michigan is the only state with a recreational cannabis program. Pennsylvania and West Virginia are medical-only states. Cannabis is illegal in Indiana and Kentucky. Ohio ranks 7th in total population and 10th in population density with a total population of 11,756,058 people. All of these factors make Ohio an excellent state to open a cannabis business.
How to Open a Dispensary in Ohio
Though the application process to open a cannabis business in Ohio is currently closed, the voter-lead initiative has a great chance of passing which will open licensing. Stay up to date by following Global Go on social media and by subscribing to our newsletter. Applying for a cannabis business license is a long and arduous process that can take up to a year to prepare. Fill out the form below to speak to a Global Go cannabis consultant today: