Which east coast state embraces cannabis first? It could be Maryland.
While enormous fanfare currently surrounds hot and developing marijuana markets already in play, like Oregon, Nevada, New York and California, East-coaster Maryland has begun to come into its own a bit more quietly but its market development is not going unnoticed.
Industry watchers, in particular, investors, are watching the state market develop with interest because of the investment climate it is creating for those interested in financing the green rush. There is no residency requirement for those seeking gold in green, unlike many other states.
According to Leslie Bocskor, Managing Partner of Electrum Partners in Nevada, and a long-time industry advocate as well as investor, “It looks like Maryland is getting some things right that others haven’t . . .
. . .
Kris Krane, the Managing Partner of 4Front Advisors which invests in marijuana companies nationally, is also intrigued by Maryland’s market. He believes that it is shaping up to be “one of the more robust” markets on the East Coast. Unlike Bocskor, however, Krane believes that the number of initial dispensary licenses allowed by the state—94—is a good start, especially as so far there are an undefined number of production licenses.
That said, he is specifically concerned with the number of cultivation licenses as currently prescribed. “This will make the licensing process for cultivation licenses extremely competitive, with successful cultivation operations from around the country, in addition to new local applicants, all vying to be one of the few selected cultivators in the state,” he said.
If you are following the development of a comprehensive cannabis economy, Maryland is bringing together a variety of ideas already in play elsewhere. The original story is worth a read; find it HERE.
[image: Google images “Maryland”]
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