The state of Maine may be very close to starting its anticipated $300 million a year recreational marijuana market.
It has been almost four years since Maine voted to legalize adult use marijuana and the market could be launched by the fall.
The program had experienced costly delays as former Governor Paul LePage was opposed to it and with coronavius, the rollout has been delayed even further.
Currently the program has fewer than 10% of the state’s nearly 500 municipalities opted in so far. Maine’s largest city, Portland also recently capped retail store licenses at 20 and adopted stricter buffer rules on where retailers can be located.
Litigation additionally surrounds residency issues both on the state level and in Portland.
“You already had folks paying rent. … They followed all these rules and now are being told they might not be able to open,” cannabis consultant Amanda Melnick said of Portland’s evolving rules over the past 18 months.
‘“It doesn’t feel right to cap the market like this when so many people have put their life into creating these businesses and looking forward to being able to have a store in Maine.”
Demand is expected to be tremendous with Marijuana Business Daily projecting the market will reach $275 million to $325 million a year in sales by 2024.
David Heidrich, spokesman for the Maine Office of Marijuana Policy, told MJBizDaily that the state will identify a retail sales launch date “when it’s clear that we’ll have a testing facility online to support the new industry” and when public health experts deem a market opening is appropriate.