MINNESOTA: A dozen companies have applied to grow and distribute marijuana in Minnesota next year.
Friday was the deadline to submit an application — and a $20,000 nonrefundable application fee — to the Minnesota Department of Health. Twenty-nine aspiring entrepreneurs had expressed interest in the job, but in the end, fewer than half followed through before the afternoon deadline.
The state’s new Office of Medical Cannabis will sift through those applications and by Dec. 1, the Health Commissioner will name just two companies to supply the entire state.
Minnesota’s first two marijuana manufacturers will have half a year to get an entire industry up and running — an industry still illegal on the federal level and in neighboring states. The state will be scrutinizing the applications in search of applicants with a great deal of money, a great deal of business experience and detailed business plans ready to go.