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Vermont Medical Cannabis License Solutions
The Cannabis License Experts (or CLE) experienced team will help you to get your Vermont cannabis license faster and with an unmatched success rate. Having to repeat your Vermont Cannabis License application process will set your business back by months and significantly impact your earnings potential. Let us show you how we’ll help you on your path to a Vermont Cannabis License and much more by booking your free consultation today.
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Market Overview
Vermont is known for its beautiful rolling mountains, fall colours, and relatively low population. With very few Vermont cannabis licenses currently available and a low barrier to entry, Vermont is now the 11th state to legalize adult-use sales and the third to do so in New England. Vermont had already legalized cannabis in 2018 when Governor Phil Scott signed Act 86, allowing adults 21 and older to possess cannabis. The initial 5 dispensaries licensed under Vermont’s medical program will dominate the industry in Vermont and are allowed to apply for integrated facility licenses under the new adult use program. The Integrated Facility License will permit Vermont cannabis license holders to acquire, possess, cultivate, manufacture, transport, or dispense cannabis and will be licensed before applications are released for most other Vermont cannabis license types.
Given the limited Vermont cannabis licenses available with 40% of the market already being locked in by large operators, the next 2-5 years will determine how the Vermont cannabis industry evolves. Multistate operators Curaleaf and iAnthus Capital Holdings are poised to take advantage of a five-month head start in sales in the spring of 2022 backed by potentially large Vermont cannabis cultivation and processing facilities. Small producers and retailers are expected to follow thereafter. Small businesses and sole proprietorships are the heart of Vermont's economic culture. Given this overall community driven business environment, it is expected that the Vermont cannabis market within the state will reflect the same ‘Buy Local’ mentality.
Vermont’s Cannabis Control Board estimates that spending on recreational marijuana in Vermont could reach $225 million annually by 2025, which would translate to nearly $46 million in new state taxes. Vermont’s new recreational cannabis program is projected to generate roughly $250 million in annual sales by 2025.
Book a free consultation today to learn more about how Cannabis License Experts can assist you and your team on your path to domination within the Vermont cannabis market..
Given the limited Vermont cannabis licenses available with 40% of the market already being locked in by large operators, the next 2-5 years will determine how the Vermont cannabis industry evolves. Multistate operators Curaleaf and iAnthus Capital Holdings are poised to take advantage of a five-month head start in sales in the spring of 2022 backed by potentially large Vermont cannabis cultivation and processing facilities. Small producers and retailers are expected to follow thereafter. Small businesses and sole proprietorships are the heart of Vermont's economic culture. Given this overall community driven business environment, it is expected that the Vermont cannabis market within the state will reflect the same ‘Buy Local’ mentality.
Vermont’s Cannabis Control Board estimates that spending on recreational marijuana in Vermont could reach $225 million annually by 2025, which would translate to nearly $46 million in new state taxes. Vermont’s new recreational cannabis program is projected to generate roughly $250 million in annual sales by 2025.
Book a free consultation today to learn more about how Cannabis License Experts can assist you and your team on your path to domination within the Vermont cannabis market..
Vermont Cannabis Licensing Requirements, Timelines, and Selection Processes
Currently, only 5 Vermont cannabis licenses have been issued, which are vertically integrated dispensaries in Vermont that are specific to the state's medical program. As of June 25th, 2021 there were 4,767 patients enrolled with Vermont’s marijuana registry. Once the registered patient count reaches 7,000, the Vermont cannabis application period for a sixth medical dispensary will be announced. Vermont’s five existing vertically integrated medical cannabis licensees will gain first entry into the adult-use market in May 2022.
Under the adult-use regulations (Title 7) there will be 6 Vermont cannabis license types available with a tiered system for cultivation, manufacturing and retail licensing. Only 5 integrated Vermont cannabis facility licenses will be issued to existing medical dispensary license holders in Vermont. It is anticipated that the state will start issuing Vermont cannabis licenses to Small growers (1,000-square-foot canopy) and Testing laboratories by May 1, 2022 with larger cultivators by June 1, 2022 and processors and wholesalers by Aug. 1, 2022. Vermont cannabis retail store licenses will be issued by Oct. 1, 2022.
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Vermont Cannabis Market Financial Requirements
Common for most jurisdictions as a mandatory component of the Vermont cannabis application is the requirement for a minimum amount of liquid cash on hand. This is to ensure that Vermont cannabis applicants have the financial wherewithal from the licensing process through to the initial 2-5 years of operation. Initial Vermont cannabis application fees will be $2,500 (non-refundable); Licensing fee: $20,000 for the first year and $25,000 for later years; Registration identification card fee: $50 for each employee, financier, and owner of a dispensary. Additionally, in 2019, Vermont cannabis attempted to curb youth vaping by enacting a 92% tax on all vape products, including vaporizers, vape juice, and e-cigarettes.
Vermont Cannabis License Types
- Vermont cannabis Cultivation (Tier based upon method and size)
- Vermont cannabis Product Manufacturers (Tier system tbd)
- Vermont cannabis Wholesalers
- Vermont cannabis Retailers (Tier system tbd)
- Vermont cannabis Integrated Facility (only available to existing medical dispensaries)
- Vermont cannabis Testing Laboratories
| Basic Demographic Information | ||
|---|---|---|
| Resources include the US Census Bureau, City-Data.com, and any additional relevant resources. | ||
| Total # of Counties | 14 | |
| Total # of Cities | 237 towns, 9 cities, 5 unincorporated towns and 4 gores | |
| Population in 2019 | 42,819 | |
City of Burlington
27
Median Age
$63
Medial Income
$360K
Median Home Price
$1780/Month
Fair Market Rent
Vermont Cannabis Business Climate
Many national organizations compile and publish state-level business climate rankings or “indexes.” These indexes are based on measures of state policies and other factors that are thought to affect the health of businesses and hence the economic prosperity of a state. These indexes tend to fall into two groups, those that consider the business climate in terms of productivity, including measures of the quality of life and human capital, and those that emphasize taxes, regulation, and other costs of doing business.
At $31 billion, Vermont has the smallest economy in the U.S. While the five-year average unemployment rate of 4% was the fourth lowest among states, Vermont suffers from business costs which reflect 12% above the national average. Furthermore, the state’s economic outlook is relatively weak, projected to be the second worst in the U.S. over the next five years with income growth also expected to badly lag the rest of the country.
Real Estate & Zoning
Consideration for regional and local zoning with regard to allowed proximity to certain business types, schools, and other prohibited areas. Per Act 164 Retail Opt-In, there are over 250 municipalities in Vermont that must opt in to adult use retail cannabis. The law prohibits marijuana dispensaries from operating within 1,000 feet of a preexisting private or public school. They also can’t operate within 1,000 feet of any child care facility.
| Date | Cannabis Information | License Types |
|---|---|---|
| April 1, 2022 | Vermont Cannabis Applications can be accepted for | Integrated licenses, Small cultivators, and Testing laboratories. |
| May 1, 2022 | Vermont Cannabis Licenses can be issued for | Integrated licenses, Small cultivators, and Testing laboratories. Applications for all cultivators can be accepted. |
| June 1, 2022 | Vermont Cannabis Licenses for all cultivators can be issued. | |
| July 1, 2022 | Vermont Cannabis Applications can be accepted for | Product manufacturers and Wholesalers. |
| August 1, 2022 | Vermont Cannabis Licenses can be issued for | Product manufacturers and Wholesalers. |
| September 1, 2022 | Vermont Cannabis Applications can be accepted for | Retailers |
| October 1, 2022 | Vermont Cannabis Licenses can be issued for | Retailers |
One-Stop Business Solutions Provider
When you partner with CLE, you are able to leverage our proven knowledge and best industry resources to provide you a complete Cannabis Business Solution.
- LICENSING
- REAL ESTATE SEARCH
- DESIGN & BUILD
- SECURITY
- DIGITAL MARKETING & DEVELOPMENT
- EQUIPMENT TENDERING
- INTELLECTUAL PROPERTY PROTECTION
- Banking & Insurance
- Merger & Acquisitions
- Private Label Manufacturing
- Micro-Grow Franchising
- Human Resources
Frequently Asked Questions
What is commercial cannabis cultivation and processing?
Cannabis cultivation is the process of growing cannabis within a regulated environment for the consumption via a medical or adult-use cannabis program. Generally cultivation refers to the agricultural activities associated with the propagation and growing of cannabis. Cannabis processing is when you manufacture finished cannabis products, packaging of dried flowers or manufacture and package cannabis-based products (i.e. extracts, edibles, and topicals). To be able to produce cannabis and cannabis derived products commercially a specific license is required, requirements depend on the state in which you are locating this business.
What is Vermont’s licensing application timeline?
Vermont begins accepting applications for adult use cannabis businesses on April 1, 2022. Please see the below dates and license types for the application opening dates.
Integrated licenses, small cultivators, and testing labs. – Apr 1, 2022
All cultivations licenses – May 1, 2022
Product manufacturers and wholesalers – Jul 1, 2022
Retail – Sep 1, 2022
Can municipalities ban cannabis facilities from operating in their jurisdiction?
Local municipalities in Vermont can choose not to allow retail cannabis sales within their jurisdiction however they cannot ban any other facility type from locating and operating in their town. The license types that cannot be banned include: wholesaler, manufacturer, cultivator, and testing lab.
How do I qualify to be a social equity applicant?
Currently the Social Equity Subcommittee has provided recommendations for the criteria and inclusion of the social equity program. At this time the application criteria for social equity qualification has not been determined.
A few of the recommended criteria for eligibility include:
- Lives in an Opportunity Zone
- Qualifies as a minority
- Previously impacted by cannabis related convictions
How do I obtain an integrated cannabis establishment license?
The integrated facility licenses, which are the only fully vertical licenses offered in Vermont, are reserved specifically for existing medical businesses. To get an understanding of qualifications for this license type as well as other license types, please book a free consultation with the Cannabis License Experts team.
Don't Know Where To Begin? Get Started Now
Applying for a cannabis license in Vermont and unsure where to start?
Beginning April 1st, 2022 Vermont will begin accepting Vermont cannabis applications for recreational cannabis businesses and will continue through October 2022. Cannabis License Experts can assist your team to achieve success during Vermont’s competitive application process.
In order to get started, reach out to one of our regulatory experts today to learn more about Cannabis Business Solutions.
