It will cost a Utah grower or processor of medical marijuana $100,000 in licensing fees, which "is a drop in the bucket" where the marijuana industry is concerned," said Drew Rigby, the state's cannabis program manager.
"The fees represent the market opportunity at hand," he said Wednesday following a sparsely attended public hearing where processing establishment rules were to be discussed. Applicants for a limited number of cultivation licenses are also required to have at least $250,000 set aside for potential issues that deal with running a business of this kind.
"Anyone with experience would have that kind of capital," Rigby, the Hemp and Cannabis Program director with the Utah Department of Agriculture and Food, said.
Licensing fees are the same for cultivators and Tier 1 processors, though there is a lower-tier/cheaper license option for processors wanting only to package and label medical marijuana products, which is a $35,000 fee.
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