MJBizMag February 2023 - 21
INDUSTRY DEVELOPMENTS
Connecticut
Seven licensed retailers participated in the state's first day of regulated adult-use marijuana sales on
Jan. 10. According to the Department of Consumer Protection, the stores sold more than $250,000 worth
of product between 10 a.m. and 5 p.m. on opening day.
While some consumers reported lines of up to 90 people, many customers placed online orders in
advance and used proof of purchase to enter stores with a shorter wait.
Connecticut first legalized medical marijuana in 2012, and adult-use cannabis became legal in June 2021.
First-year sales of adult-use marijuana could reach $300 million-$375 million, with sales growing to
$650 million-$800 million in 2026, according to the MJBiz Factbook.
Florida
Regulators awarded 22 new medical marijuana business licenses that " could double the size " of the
state's MMJ market.
According to The News Service of Florida, state regulators also issued an emergency rule that:
* Increases the cost of a biennial license renewal from about $60,000 to more than $1.3 million and
raises a new license fee from $60,830 to $146,000.
* Mandates that health officials accept applications in " batching cycles, " whose time frames would
be established in a separate rule.
Additionally, Florida adult-use marijuana legalization advocates have collected almost 150,000 valid
signatures in an effort to include the issue on the 2024 ballot. Safe & Smart Florida, the group behind
the effort, needs to collect a total of 891,589 valid signatures to get the constitutional amendment
on the ballot. The Florida Supreme Court also must review the proposed language that will be put to
voters. That process requires an additional petition with at least 222,898 valid signatures.
Growing Containers
Start to finish containers
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* HC's resin containers are
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Visit hc-companies.com and click " Cannabis " for more information or to download our catalog
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MJBizMag February 2023
Table of Contents for the Digital Edition of MJBizMag February 2023
MJBizMag February 2023 - 1
MJBizMag February 2023 - 2
MJBizMag February 2023 - 3
MJBizMag February 2023 - 4
MJBizMag February 2023 - 5
MJBizMag February 2023 - 6
MJBizMag February 2023 - 7
MJBizMag February 2023 - 8
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MJBizMag February 2023 - 20
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MJBizMag February 2023 - 51
MJBizMag February 2023 - 52
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