19 New Licenses Available in Florida in 2022!

Florida recently announced plans to expand its $1.3 billion-dollar medical cannabis industry in 2022. In a state with over 21 million people, this expansion creates lucrative opportunities for new and existing business owners. For anyone awarded one of the new licenses, it's a potential windfall as Florida is heading towards adult use in the coming years. For serious entrepreneurs who want to capitalize on this market, now is the time to start planning and preparing. 

The Florida Department of Health (DOH) announced that it expects to issue nineteen new Medical Marijuana Treatment Center (MMTC) licenses. The announcement, released in October 2021, stated the Office of Medical

Marijuana Use (OMMU) will issue nineteen new licenses in 2022 and another eight in 2023. Currently, Florida has granted 22 licensed MTTCs vertically integrated to accommodate the 620,000 Florida residents qualified as medical cannabis patients. 

Typically, when cannabis medical markets expand into adult-use programs, anyone who holds a medical license will have a first-in-line preference in acquiring initial adult-use licenses. Currently, Florida is on a path towards legalizing cannabis adult use for its residents. In June 2021, Sensible Florida, a local non-profit organization pushing for cannabis legalization, submitted a constitutional amendment legalizing cannabis for adult use. However, the proposal called Regulate Marijuana in a Manner Similar to Alcohol to Establish Age, Licensing and Other Restrictions was struck down due to language included in the proposal "for limited use," which was determined to be misleading. Since then, a new proposal has been submitted by Sensible Florida that must collect 891,589 signatures by February 2022. It also needs to receive Supreme Court approval before being placed on the ballot for the 2022 election. If the amendment passes next fall, it will increase the value and opportunity of the new licenses being awarded in the summer of 2022.

Preliminary budget requests from the DOH asked for $13 million to more than double the size of the current OMMU from its 80 person staff to 165 people in anticipation of a dramatic expansion of the current market. In 2020, Florida's medical cannabis market created 15,000 jobs and posted $1.23 billion; according to Arcview Market Research, this market could generate $6 billion in revenue by 2030. Current forms of allowed medical cannabis in Florida include Low THC (8% or lower)/high CBD cannabis products, smokable flower, and high THC cannabis products.



And while the added licenses aren't available until 2022 and 2023, savvy entrepreneurs are already proactively planning and preparing themselves to best position their business for success in achieving their medical marijuana treatment center license within the State of Florida.

Applying for a cannabis license is a complex and challenging endeavor. Having expertise and a wealth of experience gained from working with over 1000 clients, cannabis consultants working for you and your team may be something to consider.