Interested in applying for a cannabis industry license? Whether in the retail, manufacturing or cultivation sector, it comes with a price.
And that's just the application fee, which puts applicants into a lottery pool.
The nonrefundable application fee starts at $5,000, but is reduced to $1,000 for social equity applicants, and $3,000 for a microbusiness, said Robert Coupe, head of the Delaware Office of the Marijuana Commissioner.
The application fee period opened in August and will close Monday, Sept. 30. Those who have ponied up the funds will be put into a lottery for one of the 125 licenses. Of that number, there are 47 earmarked for social equity applicants – those who have been negatively impacted by past marijuana policy. There is also a set number of licenses for retail, manufacturing and cultivation. A two-year license starts at $10,000, with deeper discounts for social equity and microbusiness licensees, and reductions based on cultivation sizes.
Read more at Cape Gazette.