Rhode Island And California Updates
Rhode Island
With nearly 20,000 registered patients, Rhode Island’s medical cannabis program recently opened up its second round of applications for six additional medical dispensing licenses. Applicants have been given a five-month window to complete their applications, which includes several financial and ownership disclosures and three versions of each application submitted. Applicants who have paid the $10,000 application fee and meet the minimum requirements are entered into a lottery drawing. The drawing will choose one winner for each of the six geographic regions. Since existing dispensing centers are located in Providence, Portsmouth, and Warwick, those communities will eventually have two dispensaries within their borders. Winners will then have up to nine months to meet requirements and pay the $500,000 annual licensing fee.
The application period opened July 2020, and ends December 15, 2020, so please contact us today if you are interested in obtaining a license.
California Jurisdictional Updates
Costa Mesa
In light of the economic impact of COVID-19, several municipalities in California are reconsidering their laws on licensing cannabis businesses. On July 21, 2020, Costa Mesa passed a city ballot measure to allow retail cannabis uses in certain areas of the city with a 4 -7% tax on gross receipts. With its location in the heart of Orange County and growing population, Costa Mesa would be an exciting addition for expanding cannabis businesses.
San Joaquin County
On the same date, San Joaquin County passed an ordinance to add special taxation of commercial cannabis businesses in unincorporated areas and taxation on commercial cannabis businesses to the ballot for November 2020. We are excited about these new developments and opportunities for expanding cannabis businesses.
If you are interested in applying for a cannabis license in either California or Rhode Island, contact Global Go to start planning for successful expansion!
About Global Go
Global Go provides sophisticated consulting services to the global cannabis and hemp industry. In tandem with strategic allies around the world, Global Go serves clients throughout the world from offices in Austin, Bogota, Chicago, Cyprus, Denver, Johannesburg, London, Los Angeles, Mexico City, New York, Palm Springs, Phoenix, Quito, São Paulo, Silicon Valley, Toronto, and Zurich. Powered by a team of cannabis industry pioneers and world-class consultants, Global Go helps leading cannabis funds and companies assess and enter new markets; acquire assets; raise capital; launch new product lines; improve SOPs; comply with regulations; implement technology and security systems; find talent; diagnose and execute solutions to growth obstacles; and apply for cannabis licenses (with a 99% success rate on over 175 cannabis license applications across the United States). Learn more at https://globalgo.consulting.