Katelyn Baker
Well-Known Member
Columbus, Ohio - The rules for Ohio's medical marijuana growers and dispensaries are months away from being written, but entrepreneurs are already eyeing the future market here.
Dozens of marijuana and cannabis-related business names have been registered with the state since the legislature passed Ohio's medical marijuana law in late May. Existing Ohio companies are considering how they can service the marijuana industry. Companies working in legal marijuana states are planning to expand.
The coming months will likely be filled with medical marijuana conferences, workshops and panels for would-be marijuana business owners. But much of the preparation will be speculative, as crucial details - such as the number of business licenses available and the criteria used to award them - are unknown.
Ohio's medical marijuana law goes into effect Sept. 8 and requires the system to be fully operational by September 2018. The commerce department has until May 6, 2017, to issue rules and regulations for cultivators, and the rest of the rules must be set by October 2017.
But that's not stopping aspiring "potpreneurs" from getting a head start.
Committee lacks industry representative
House Bill 523 sets up tiered industry structure with cultivators, processors, testing facilities and retail dispensaries.
Lawmakers left decisions such as how many licenses will be available, how people will apply for licenses and how they will be awarded to three regulatory agencies.
A new 14-member advisory committee will make recommendations to the Department of Commerce, State Pharmacy Board and State Medical Board. The committee must be appointed by Oct. 8 and include two pharmacists (one who supports medical marijuana), two physicians (one pro-medical marijuana), a nurse, a researcher and members representing each of the following interests: law enforcement, employers, labor, patients, caregivers, agriculture, mental health and drug and alcohol addiction treatment.
The advisory committee doesn't include a spot representing any of the marijuana businesses already operating in Ohio.
Apeks Supercritical owner Andy Joseph said he was disappointed the advisory board didn't have a small business representative. Johnstown-based Apeks makes carbon dioxide extraction systems used to make cannabis oils. The company was named the 24th fastest growing company in the nation in 2015 by Inc. Magazine.
"We've seen the trials and tribulations that come from different paths of legalization, so why not tap our expertise?" Joseph said.
Lobbying three agencies
Marysville Sen. Dave Burke, who led the Senate GOP work on the bill, said businesses are welcome to take part in the regulatory process. Burke said they should work directly with regulators crafting the rules.
"We are Ohio and this is an Ohio law," Burke said. "We'd rather keep it an Ohio business."
The three state agencies in charge of rule making and compliance:
Department of Commerce, which licenses cultivators, processors and testing labs.
State Pharmacy Board, which registers patients and caregivers and issues licenses to medical marijuana retail dispensaries.
State Medical Board, which certifies physicians who want to recommend marijuana to patients.
Future business owners are lawyering up and hiring lobbyists to keep their pulse on the multi-prong process. Five different trade organizations have registered names with the state.
The Ohio Cannabis Association, registered two days before the legislature passed the bill, will represent businesses, patients and advocates, said co-founder Brian Wright. Wright, a Cleveland political consultant, said all of those groups have an interest in a competitive, well-regulated industry.
"Anybody who wants to be involved or learn more or have a voice in the cannabis industry as it grows here can play a part," Wright said.
Taylor West, deputy director of the National Cannabis Industry Association, said it's important that regulators listen to patients and providers while setting up Ohio's system.
"Otherwise you end up with programs like New Jersey, where they technically have a medical marijuana program but it's so limited that hardly any patients are being served," West said.
Getting a head start
Nearly 90 new companies or business names featuring words such as "cannabis" or "marijuana" have been registered since last year, when ResponsibleOhio put Issue 3, a recreational marijuana measure, on the ballot.
Since May, Thomas Jackson of Athens has registered 28 trade names such as Cleveland Cannabis, Ohio Cannabis Extracts and High Street Medical Marijuana. Jackson said he has been growing marijuana in California for Ohio patients for years and wants to grow organic cannabis here when it's legal.
Jackson said he plans to share his expertise during the rule making process.
"The idea that some people have that this is a get-rich-quick scheme - I don't believe it is," Jackson said. "It's going to be a struggle. We've seen in other states the systems they've set up are difficult for small businesses."
New company QC Infusion also plans to work with regulators drafting the rules. The Cincinnati business launched sales of its hemp oil on May 20. The oil contains cannabidiol extracted from hemp - cannabis that contains very low amounts of psychoactive compound THC - and is used as an anti-inflammatory.
While the oil is legal to use in Ohio, the hemp has to be grown and extracted in another state. Co-owner Nic Balzer said he hopes the company's early presence will position it to obtain a processor license when they become available and produce THC oils and other marijuana products.
Before then, Balzer said, the hemp oil, lotion and other products can show doctors and regulators what the products might look like and help patients learn more about medical marijuana.
Joseph said he's ready to expand his 17,000-square-foot facility to as much as 65,000 square feet when he has a better idea of what Ohio's industry will look like. He wants to fill some of that space extracting marijuana and rent other space to marijuana businesses struggling to find a home that meets the law's requirements.
"We'd obviously be a friendly landlord," Joseph said.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Small Businesses Prepare For Ohio Medical Marijuana Market Months Before Regulations Announced
Author: Jackie Borchardt
Contact: Cleveland Ohio Local News
Photo Credit: Seth Perlman
Website: Cleveland Ohio Local News
Dozens of marijuana and cannabis-related business names have been registered with the state since the legislature passed Ohio's medical marijuana law in late May. Existing Ohio companies are considering how they can service the marijuana industry. Companies working in legal marijuana states are planning to expand.
The coming months will likely be filled with medical marijuana conferences, workshops and panels for would-be marijuana business owners. But much of the preparation will be speculative, as crucial details - such as the number of business licenses available and the criteria used to award them - are unknown.
Ohio's medical marijuana law goes into effect Sept. 8 and requires the system to be fully operational by September 2018. The commerce department has until May 6, 2017, to issue rules and regulations for cultivators, and the rest of the rules must be set by October 2017.
But that's not stopping aspiring "potpreneurs" from getting a head start.
Committee lacks industry representative
House Bill 523 sets up tiered industry structure with cultivators, processors, testing facilities and retail dispensaries.
Lawmakers left decisions such as how many licenses will be available, how people will apply for licenses and how they will be awarded to three regulatory agencies.
A new 14-member advisory committee will make recommendations to the Department of Commerce, State Pharmacy Board and State Medical Board. The committee must be appointed by Oct. 8 and include two pharmacists (one who supports medical marijuana), two physicians (one pro-medical marijuana), a nurse, a researcher and members representing each of the following interests: law enforcement, employers, labor, patients, caregivers, agriculture, mental health and drug and alcohol addiction treatment.
The advisory committee doesn't include a spot representing any of the marijuana businesses already operating in Ohio.
Apeks Supercritical owner Andy Joseph said he was disappointed the advisory board didn't have a small business representative. Johnstown-based Apeks makes carbon dioxide extraction systems used to make cannabis oils. The company was named the 24th fastest growing company in the nation in 2015 by Inc. Magazine.
"We've seen the trials and tribulations that come from different paths of legalization, so why not tap our expertise?" Joseph said.
Lobbying three agencies
Marysville Sen. Dave Burke, who led the Senate GOP work on the bill, said businesses are welcome to take part in the regulatory process. Burke said they should work directly with regulators crafting the rules.
"We are Ohio and this is an Ohio law," Burke said. "We'd rather keep it an Ohio business."
The three state agencies in charge of rule making and compliance:
Department of Commerce, which licenses cultivators, processors and testing labs.
State Pharmacy Board, which registers patients and caregivers and issues licenses to medical marijuana retail dispensaries.
State Medical Board, which certifies physicians who want to recommend marijuana to patients.
Future business owners are lawyering up and hiring lobbyists to keep their pulse on the multi-prong process. Five different trade organizations have registered names with the state.
The Ohio Cannabis Association, registered two days before the legislature passed the bill, will represent businesses, patients and advocates, said co-founder Brian Wright. Wright, a Cleveland political consultant, said all of those groups have an interest in a competitive, well-regulated industry.
"Anybody who wants to be involved or learn more or have a voice in the cannabis industry as it grows here can play a part," Wright said.
Taylor West, deputy director of the National Cannabis Industry Association, said it's important that regulators listen to patients and providers while setting up Ohio's system.
"Otherwise you end up with programs like New Jersey, where they technically have a medical marijuana program but it's so limited that hardly any patients are being served," West said.
Getting a head start
Nearly 90 new companies or business names featuring words such as "cannabis" or "marijuana" have been registered since last year, when ResponsibleOhio put Issue 3, a recreational marijuana measure, on the ballot.
Since May, Thomas Jackson of Athens has registered 28 trade names such as Cleveland Cannabis, Ohio Cannabis Extracts and High Street Medical Marijuana. Jackson said he has been growing marijuana in California for Ohio patients for years and wants to grow organic cannabis here when it's legal.
Jackson said he plans to share his expertise during the rule making process.
"The idea that some people have that this is a get-rich-quick scheme - I don't believe it is," Jackson said. "It's going to be a struggle. We've seen in other states the systems they've set up are difficult for small businesses."
New company QC Infusion also plans to work with regulators drafting the rules. The Cincinnati business launched sales of its hemp oil on May 20. The oil contains cannabidiol extracted from hemp - cannabis that contains very low amounts of psychoactive compound THC - and is used as an anti-inflammatory.
While the oil is legal to use in Ohio, the hemp has to be grown and extracted in another state. Co-owner Nic Balzer said he hopes the company's early presence will position it to obtain a processor license when they become available and produce THC oils and other marijuana products.
Before then, Balzer said, the hemp oil, lotion and other products can show doctors and regulators what the products might look like and help patients learn more about medical marijuana.
Joseph said he's ready to expand his 17,000-square-foot facility to as much as 65,000 square feet when he has a better idea of what Ohio's industry will look like. He wants to fill some of that space extracting marijuana and rent other space to marijuana businesses struggling to find a home that meets the law's requirements.
"We'd obviously be a friendly landlord," Joseph said.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Small Businesses Prepare For Ohio Medical Marijuana Market Months Before Regulations Announced
Author: Jackie Borchardt
Contact: Cleveland Ohio Local News
Photo Credit: Seth Perlman
Website: Cleveland Ohio Local News
