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.
- 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.
After finishing out the quarter, there were no changes to the multi-license leaderboard. These license holders are all in California.
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.
Cannacurio is a weekly column from Cannabiz Media featuring insights from the most comprehensive license data platform. Catch up on Cannacurio posts and podcasts for the latest updates and intel.
Ed Keating is a co-founder and Chief Data Officer of Cannabiz Media and oversees our data research and government relations efforts. He has spent his whole career working with and advising information companies in the compliance space. Ed has overseen complex multijurisdictional product lines in the securities, corporate, UCC, safety, environmental and human resource markets and focuses on workflow products over the last twenty five years. During that time he has worked for both startup and established information companies where he has led marketing, product management and sales organizations. These companies include Wolters Kluwer/Commerce Clearing House, CT Corporation, EDGAR Online and Business & Legal Reports. At Cannabiz Media Ed enjoys the challenge of working with regulators across the globe as he and his team gather corporate, financial, and license information to track the people, products and businesses in the cannabis economy. Ed graduated from Hamilton College and received his MBA from the Kellogg School at Northwestern University.