While DC has a bill being proposed for a November ballot fully legalizing cannabis, retroactively expunging cannabis criminal records, and opening up the market for local businesses to participate, VA is going the other way with cannabis legality. VA has cleared the way for 4 cannabis dispensaries to begin operating in the very near future! Let’s check out this very corporate friendly setup!
According to Marijuana Business Daily Virginia has approved the Beyond/Hello dispensary to open in Manassas, Virginia. The Columbia Care dispensary will open in Portsmouth. The Dharma facility will open in Bristol, VA while the last site will be the Green leaf Dispensary in Richmond, VA.
Dharma in Bristol, VA is set to open in days for residents of Virginia. The Green Leaf Dispensary in Richmond is set to open in mid-October. The Beyond/Hello and Columbia Care facilities have yet to announce opening dates.
Marijuana Business daily reports Virginia has restricted the market to the point projected sales are to be around 50 million dollars. Virginia has restricted sales to only ” Cannabis oils, edibles, and vape cartridges. Edibles will include lozenges and lollipops. For vape cartridges, dispensaries will only allow those that are single doses with a cap of 10 milligrams of THC”. It is suspected that VA lawmakers may move to full legalization in the next year or two greatly benefiting the four aforementioned licensed dispensaries.
Let’s look at these licenses. Each license may have up to six satellite dispensaries. Therefore it is likely these four dispensaries will scale to 24 taxable businesses in the state of Virginia. Lastly, Virginia Cannabis Industry Association executive director Rebecca Gwlit said of the move to monopolize the licences amongst a few corporate structures that it “Doesn’t encourage the type of competition that would be helpful to consumers.”
While DC is seeking to expand the cannabis market to make it more inclusive for marginalized communities and those adversely affected by previous cannabis decriminalization, it looks like Virginia is setting up a good old boys network for cannabis profiteering. How will the proposed laws in Virginia assist entrepreneurs in the Commonwealth engage in this cannabis boom? We shall see how the “fair market”fairly deals in Virginia.