Florida regulators finally have issued the first vertically integrated medical marijuana license specifically designated for a Black farmer, a potentially lucrative business opportunity.
The license will allow Terry Donell Gwinn of McAlpin, Florida, to grow and sell medical marijuana, Politico reported.
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The license was required under a 2017 law and is connected to a 1981 discrimination case – the so-called “Pigford” class action lawsuit – that found Black farmers in the state were discriminated against by federal officials.
The state received a dozen applications for the license, including from Black farmers backed by investors with strong financial resources.
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The license carried a controversial $146,000 fee. Earlier, MMJ business permit fees in Florida were less than half that amount.
The 2022 MJBiz Factbook projected that Florida’s medical marijuana market would generate $1.3 billion-$1.5 billion in sales this year.
Read full article on Marijuana Business Daily
