Illinois Applications Bring In More Than $5 Million From Potential MMJ Business Owners
The Illinois application period for potential medical marijuana business owners has closed, and with more than 350 applications submitted, the state brought in more than $5 million in non-refundable application fees.
A total of 369 applications were filed, 211 for dispensaries and 158 for cultivation centers. There is about a 1 in 3 chance of receiving a license for the 60 dispensaries and a 1 in 7 chance for the 21 cultivation centers.
Of course the odds will vary throughout the state; more densely populated areas are likely to have more competition than rural areas, but competition has been fierce throughout the state in the months leading up to the application window. Municipalities have increasingly seen medical marijuana facility proposals on their agendas as business owners sought recommendations from the cities, towns and counties.
Representatives of the pilot program are happy that they received a large number of Illinois applications to help them select the best candidates for licenses. The state hopes to award licenses by the end of the year.