Through May 2020 the industry has added 554 licenses year to date with 88 in April and 77 in May. Those 554 represent an 8% increase from the 6,927 at the beginning of the year. Twenty one states have added at least one active license this year. Oklahoma still retails the lead and has accounted for 201 of the 554 (36%).
- Oklahoma leads the nation again with 201 new licenses but the rate of issuance is declining
- Michigan came in second with 114 new licenses – up 50% since January 1
- Altmed Florida is the leader in new stores with 10
In reviewing the trade names/companies – there are a few that opened multiple storefronts since the beginning of the year. Four of the leaders added stores in Florida.
Oklahoma continues to be the hots pot for dispensaries in the United States and accounts for 30% of the nation’s dispensaries/retailers. The rate of issuance has declined this year as seen below.
Despite the COVID -19 crisis, states continued to add stores although it’s been a tough quarter for dispensaries and retailers. They have had to navigate whether they were essential businesses in some states, then were excluded from government assistance and most recently suffered from looting. We’ll report back with Q2 numbers next month.
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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.