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Michigan medical marijuana firms could need $500K to open

by / No Comments / 0 View / October 19, 2017

By Bart Schaneman

Michigan’s proposed medical marijuana regulations could very well force some existing companies out of business if they lack the financial cushion needed to secure a new license.

The proposed rules would require companies to have up to $500,000 to get a business permit.

According to MLive.com, the state’s Department of Licensing and Regulatory Affairs recommended marijuana businesses have the following amounts of start-up capital to receive a license:

  • Grower class A (500 plants) – $150,000
  • Grower class B (1,000 plants) – $300,000
  • Grower class C (1,500 plants) – $500,000
  • Processor – $300,000
  • Provisioning center – $300,000
  • Secure transporter – $200,000
  • Safety compliance facility – $200,000

Michigan medical marijuana firms could need $500K to open is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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