Minnesota's Cannabis Licensing: Fall 2024 Progress
Cannabis licensing in Minnesota has progressed more slowly than initially anticipated. According to the Office of Cannabis Management (OCM), the review process is taking longer than expected, resulting in delays to the rollout of licenses. As the first round of licensing is still in progress, the timeline for the general licensing phase remains on hold but is expected to be announced by early 2025. Applicants from the first round, initially set to receive license approvals by fall of this year, are now anticipated to receive the lottery results and approval by year’s end.
If chosen from the lottery, those winners will be issued temporary licenses, which are valid for 18 months. These temporary licenses will empower licensees to progress towards operational readiness by securing property, capital, and local building approvals, though holders will be prohibited from engaging in selling cannabis or executing any ownership changes that might affect control.
While the first round focused exclusively on social equity applicants, the upcoming round will include both general and social equity candidates. If you believe you may still qualify for social equity status, there's no need to worry— the OCM plans to provide additional opportunities for social equity verification in future licensing rounds.
Minnesota Cannabis License Types & Availability
The same license types for social equity will be made available in early 2025 for all applicants, in which there are over 10 different types to choose from. Vertical integration will be prohibited except for microbusiness, mezzobusiness, and both lower-potency hemp edible manufacturer and lower-potency hemp edible retailer licenses. If a certain number of applicants is met, a lottery system will be conducted to give final approvals to those applicants. The license types available will be:
For any license type looking to cultivate, the limitations are as followed:
In addition to the initial social equity licenses, the remaining number of licenses to be awarded in 2025 are:
Retailer: 37
Cultivator: 12
Mezzobusiness: 25
Manufacturer: 6
Ready to Become a Licensed Cannabis Business Owner in Minnesota?
While we wait for the 2nd round of licensing, the OCM recommends preparing your proposed business plan, security plan, and business capitalization table, as well as standard operating procedures for: quality assurance; inventory control, storage, and diversion prevention; and accounting and tax compliance. We here at Global Go are ready to support you in preparing your winning application.
Global Go specializes in cannabis licensing and applications (99% win-rate in hundreds of applications), compliance automation, advanced analytics, training, SOPs, mergers and acquisitions, new product launches, technology, security, and best practices. Enhance your prospects for success in the projected $1.5 billion Minnesota cannabis market by reaching out to a Global Go Cannabis Application Director and accessing invaluable insights from the Land of 10,000 Lakes today.
