West Virginia Cannabis Consulting
West Virginia's clinical marijuana law became effective on July 5, 2017, however the first round of permitting applications wasn't delivered until December 19, 2019.
A Guide to Cannabis Businesses in the State of West Virginia
Expect high tussle in the cannabis business this year. Nonetheless, bouncing into the West Virginia market requires capacity, and mindfulness that the cannabis world requires a sound business framework. Our experts are here to assist you with that application.
Cannabis Market Conditions in West Virginia
The cannabidiol business is a sensible one in West Virginia. There are different potential outcomes in West Virginia. A section of the things that add to the market’s exceptional advancement is the steady political help, gotten together with the 20-year period of endorsement.
Cannabis Industry Projections for West Virginia
| Rate of Consumption | |
| 2018 – 2021 | 14.11% |
| Forecast of Spending | |
| 2018 | $365 million (adult-use) |
| 2024 | $1 billion (adult-use) |
| Compounded Annual Growth Rate (CAGR) | |
| 2018 | 20.00% |
| 2024 | 21.02% |
Getting a Cannabis License in West Virginia
You do not have to be an expert in the West Virginia business of cannabis authorizing. Do not get anxious. Our group of consultants is here to help.
West Virginia Cannabis License Guidelines
It is the duty of the Bureau of Cannabis Control (BBC) to direct business cannabis licenses. It has delivered a bunch of rules for forthcoming searchers of business cannabis licensure. At any rate, MMTC competitors should display they:
- should be more than 21 years
- Have been assessed arranging business in West Virginia for, regardless, five straight years
- Have nursery support of determination from the Department of Agriculture and Consumer Services
- Have mechanical and imaginative ability to grow low-THC cannabis
- Can secure the premises with the preeminent labor force
- Are rotated around the responsibility of each unforgiving material, finished things, and results
- Set up for business in a space that is reasonable for controlling to qualified patients
- Pass Level 2 Background Screening (for all owners, trained professionals, board people, and supervisors)
- Use a clinical chief to work with all activities
Cannabis Business Guidance in West Virginia
West Virginia is driven by its huge degree and tempered by a bewildering and testing climate for business supervisors. The market is essentially intense and goes with high cutoff points to section. Similarly as being merit-based, the prohibitive permitting necessities merge posting a $5 million security, and rules require a vertical mix. New affiliations will require gigantic hypothesis pay to make and finish an upward heading formed activity.
Types of West Virginia Marijuana Growing License
Cultivation office licensees are allowed:
- To develop, interact, and bundle marijuana
- To have marijuana tried by a testing office; and
- To offer marijuana to retail marijuana stores, to marijuana item producing offices, and other cultivation offices, not to customers.
West Virginia Commercial Manufacturing License Cost
To acquire (and keep up) this license, the State of West Virginia requires an application:
- a $2,500 application fee
- a $10,000 license charge
- broad supporting documentation including marketable strategies
- verification of monetary dissolvability, and
- an outline of the office, and
- intermittent reestablishments.
A Grow License in West Virginia
Getting into the pot making business (otherwise known as the cannabis business) isn’t subtle. The starting expenses of a West Virginia pot creating permit solidifies a non-refundable application charge, also to a legitimate evaluation. The last expenses range from $4000 to $40,000, subject to the class you are applying for. There are extra costs that are permitted by the MMFLA (Medical Marijuana Facilities Act). Different costs relate to the locale where your cannabis improvement is being made, and those can be basically pretty much as high as $50000.
West Virginia License Application Fee
- The yearly license and recharging expense are now $1381, even though it has been liable to change throughout the long term.
- If WSLCB offers more licenses, later on, there will probably be a non-refundable application expense of $250.
- If a business buys a current organization, a Change in Governing People, Percentage Owned, and Stock/Unit Ownership structure should be documented. There is a going with a $75 expense.
West Virginia Annual Regulatory Assessment
With the passage of Initiative 502 of each 2012, the region of West Virginia moved to a nitty gritty managerial technique on weed, with state-authorized producers, processors, and retailers. Under the 2016 establishment, all pot allowed is controlled and maintained by the West Virginia State Liquor and Cannabis Board (LCB).
West Virginia Manufacturing License
The three tiers of producer licenses include:
- Tier 1 – Under 2,000 square feet
- Tier 2 – 2,000 to 10,000 square feet
- Tier 3 – 10,000 to 30,000 square feet with a renewal fee of $30,000 for the bottom 33%, $40,000 for the middle 33%, $50,000 for the top 33%
West Virginia Licenses for Retail, Dispensary, Distribution
The cannabis business makes considerable progress and is presently a professional endeavor in West Virginia:
- Apply for a license with the Department prior to apportioning cannabis
- The state will grant up to 100 dispensary licenses
- Close to 10 dispensary licenses will be given to 1 individual
- An individual who holds a dispensary license may hold a producer or processor grant
- There will be a nonrefundable $2,5000 application charge and a $10,000 enlistment expense for every area needed during the accommodation of the application yet will be discounted if grant isn’t granted
- Dispensary office should meet a similar metropolitan drafting and land use prerequisites as other business offices that are situated in a similar drafting locale
West Virginia Commercial Cannabis FAQS
For every question you have, our expert team holds answers. We are up to date on the intricacies of the cannabis industry in West Virginia.
How much marijuana is in a pound?
A pound is 16 ounces or 453.592 grams.
I’m a registered OMMP patient, but I’m 18 years old. Can I buy medical marijuana from an OLCC retailer?
OLCC retailers selling marijuana for medical purposes can sell medical marijuana to OMMP patients 18 years of age or older.
What’s medical-grade marijuana?
Medical grade means marijuana items that have a higher THC concentration limit than items sold to recreational customers. For example, a recreational customer can buy a package of edibles that contains up to 50 mg of THC, and each serving size in that package can be up to 5mg of THC. A medical-grade edible sold to an OMMP registered patient can contain up to 100 mg of THC per package, and there is no maximum serving size for medical-grade edibles.
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© 2021 – Argonaut Advisors
© 2021 – Argonaut Advisors