Michigan medical marijuana firms could need $500K to open

Michigan’s proposed medical marijuana regulations could very well force some existing companies out of business if they lack the financial cushion needed to secure a new license. The proposed rules would require companies to have up to $500,000 to get a business permit. According to MLive.com, the state’s Department of Licensing and Regulatory Affairs recommended marijuana businesses have the following amounts of start-up capital to receive a license:

• Grower class A (500 plants) – $150,000
• Grower class B (1,000 plants) – $300,000
• Grower class C (1,500 plants) – $500,000
• Processor – $300,000
• Provisioning center – $300,000
• Secure transporter – $200,000
• Safety compliance facility – $200,000

... Michigan medical marijuana firms could need $500K to open is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs