Many Illinois cannabis applicants are upset about the licensing process. As a result, Gov. J.B Pritzker gives these applicants another chance to revise their applications before the lottery. Now, let’s see what this means for Illinois cannabis applicants. Our cannabis consultants at Quantum 9 are here to give you a quick rundown.
Illinois Cannabis Applications and Reevaluation
Let’s look at the current situation.
The 21 firms within the lottery all have perfect scores on their applications. As a result, the other 900 applicants saw the ultimate decision unfair. Now, the 900 applicants who did not qualify have the chance to review their scoring along with a notice that outlines all of the deficiencies. The Illinois cannabis applicants who lost can amend their applications or petition the Illinois Department of Financial and Professional Regulation to reevaluate their application.
Illinois Cannabis Applicants and Social Equity
Cannabis application requirements for Illinois heavily focused on social equity. Although this was all meant for good, it did not go as planned. Pritzker is aware of the unfairness within the applications and is making efforts to revise the scoring. He states that “…we believe that these new steps will inject more equity and fairness in the first round of license awards and provide insight as we improve the process for future rounds.”
This change is important as Illinois cannabis applicants are still waiting on licenses for cannabis craft cultivation, infusion, and transportation. Our cannabis consultants at Quantum 9 hope this change affects future licenses in Illinois. With that, Illinois also decided to change who reviews these applications.
KPMG Will Not Review Applications for Future Rounds
Initially, KPMG, a global accounting firm, was awarded $7 million in no-bid contracts to grade Illinois cannabis applications. Now, IDFPR officials conduct reviews. So, those who applied for cannabis craft cultivation, infusion, and transportation may have a better chance.
All in all, Illinois cannabis applicants deserve a fairer chance in this pool. From the looks of it, Illinois is making its best efforts to make this process fairer.
For more information about cannabis license applications in Illinois make sure to contact our cannabis consultants at Quantum 9. Illinois is a booming market right now and you still have a chance to enter this extremely profitable industry.