We have been tracking key cannabis activities on the Cannacurio blog and this week we look back at Q1’s cultivation licenses. Last time we checked California and Oklahoma were responsible for 95% of the new cultivation licenses issued and that trend continued through March. Both states are down from their Q2/Q3 highs in 2019 with Oklahoma showing a steeper downward trend line.

California & Oklahoma Cultivation Licenses Issued Since Q1 2019

Key Findings

  • Active licenses are up 12% since the beginning of the year with 1691 added
  • Michigan was a distant third with 49 licenses added
  • 26 states had no change in their cultivation licenses
  • 94% of the new licenses were in California and Oklahoma

The table below shows the states that have issued new cultivation licenses through Q1.

2020 New Active Licenses Created by Month Cultivators

After finishing out the quarter, there were no changes to the multi-license leaderboard. These license holders are all in California.

Multi-License Leaderboard in California

Conclusion

We are not surprised at the findings above. Cultivation is an expensive, capital intensive activity. Many states have ample capacity though COVID19 stockpiling and the upcoming 420 holiday may increase demand. Selectively companies will invest where they see opportunity:

  • Acreage Holdings is developing a 15.4-acre cannabis production facility in Sanderson to serve its Florida dispensaries. They broke ground in October on the 15.4 acre facility.
  • One Plant Florida (formerly 3 Boys Farm, LLC), has received the required written approval from the Florida Office of Medical Marijuana Use and has commenced cultivation operations at its new 54,000 square-foot greenhouse facility in Indiantown, Florida.

Cannabiz Media customers can stay up-to-date on these and other new licenses through our newsletters, alerts, and reports modules. Subscribe to our newsletter to receive these weekly reports delivered to your inbox. Or you can schedule a demo for more information on how to access the Cannabiz Media License Database yourself to dive further into this data.


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