December 9, 2015
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There are approximately 8,000 businesses, products, and individuals participating in the Connecticut marijuana economy in 2015, and every one of them needs to pay for some type of license or registration to test, grow, produce, sell, or buy marijuana.
The marijuana industry is growing rapidly across the country, and a lot of people and businesses want to get a piece of the action. It’s big business—as evidenced by the 5,000 people, 70 speakers, and 230 exhibitors paid to attend the Fall 2015 Marijuana Business Conference and Expo.
But getting into the marijuana business isn’t easy and it isn’t cheap.
So which businesses and business people (i.e., the financial backers of those businesses) have been successful in navigating the regulatory hoops of the licensed marijuana economy in Connecticut? That’s a question Cannabiz Media has answered!
Using information from the Cannabiz Media’s new report, Tracking the Connecticut Licensed Marijuana Economy, 2015 Edition, we put together a Who’s Who of Connecticut Licensed Marijuana to introduce you to the big (and small) players in the state’s marijuana economy.
There are only four licensed medical marijuana producers in Connecticut with a total of 551 licensed products between them.
Advanced Grow Labs is located in West Haven, Connecticut and holds a marijuana license and a bakery license. The company has six backers, but only five of them are from Connecticut (one is from New Jersey). Advanced Grow Labs has 166 active product licenses and two pending product licenses as well as 27 licensed employees.
CT Pharmaceutical Solutions is located in Portland, Connecticut. It holds a marijuana license and is a licensed food manufacturing establishment. The company has five backers, 73 active product licenses, and nine pending product licenses as well as 20 licensed employees.
Curaleaf is located in Simsbury, Connecticut and holds a marijuana license and a bakery license. Two of its eight backers (25%) are from outside of Connecticut (one in New York and one in Utah). The company has 164 active product licenses and one pending product license as well as 69 licensed employees.
Theraplant is located in Watertown, CT and holds a marijuana license only. The company has two backers, 148 active product licenses, and six pending product licenses as well as 49 licensed employees.
There are only six licensed medical marijuana dispensaries in Connecticut to serve 6,726 registered patients.
Bluepoint Wellness is located in Branford, Connecticut and has two backers and 10 licensed employees.
The Healing Corner is located in Bristol, Connecticut and has no backers within the state. The company has 13 licensed employees.
Arrow Alternative Care, Inc. is located in Hartford, Connecticut and has one backer, the company’s President and CEO. There are 17 licensed employees.
D&B Wellness (DBA Compassionate Care Center) has one backer, the co-founder. The company has 19 licensed employees.
Prime Wellness of Connecticut is located in South Windsor, Connecticut and has four backers. Three are from Connecticut and one is based in Massachusetts. The company has 17 licensed employees.
Thames Valley Alternative Relief is located in Uncasville, Connecticut and has one backer, the company’s owner and pharmacist manager. A total of 14 licensed employees work at the dispensary.
In Connecticut, there are only three licensed testing facilities.
CannLabs-Connecticut Inc. is located in Hartford, CT but is incorporated in Nevada. Several executives are located in Denver, Colorado. It is a public company trading under the CANL ticker as an OTC stock.
Releaf Therapeutics LLC / The CRO LLC is located in Willington, Connecticut and is incorporated in Connecticut. The business was founded in Massachusetts in 2003 and expanded to Connecticut in 2014.
Pure Analytics, LLC is located in West New Britain, Connecticut but it is incorporated in Delaware. The CEO is based in Van Nuys, California.
Using data and documents from the Cannabiz Database, we identified the following financial backers of Connecticut’s medical marijuana producers.
Based on the data from the Cannabiz Database, the following people are backing Connecticut medical marijuana dispensaries.
As the data in the Cannabiz Media report shows, there is a significant discrepancy between the number of financial backers behind marijuana producer businesses in Connecticut compared to the number of marijuana dispensary businesses. There is a reason for that, which will be the topic of our next blog post, so stay tuned!
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