Mar 2, 2020
The State of Illinois will be accepting applications for specialized cannabis licenses until March 16, 2020. This includes 40 licenses for smaller-scale craft growing centers, 40 infuser licenses, which allows baked goods, edibles, candy, infused food, and an unspecified number of transport licenses, which allows businesses to deliver cannabis for growers, dispensaries, or community colleges with licensed pot training programs. These licenses are expensive, with annual fees of $40,000 for craft growers, $5,000 for infusers, and $10,000 for transporters. There is also a $5,000 application fee.
Social Equity Provisions
Because of the expense of these licenses, the State of Illinois is offering assistance to those who qualify for the social equity program. The greater goal of these social equity provisions is to consider how income from these businesses goes back to the communities most impacted by drug convictions. To qualify, applicants must meet one of the following criteria:
The $5,000 application fees for social equity applicants will be cut in half. The Illinois Department of Commerce and Economic Opportunity (“DCEO”) will be awarded to Oakton Community College, The Trep School and Chicago NORML for training, coaching, and technical assistance in preparing the lengthy applications. The DCEO will also offer low-interest loans to cover business start-up costs.
There is a high demand for cannabis and cannabis products in the State of Illinois resulting in huge opportunities in this market. If you need information on Illinois cannabis provisions or have any cannabis-related questions, please contact any of the listed attorneys.