Pot a Cash Crop in Colorado

Medi-pot license applications net millions

Pot a Cash Crop in Colorado

Thousands of people have filed papers with the state of Colorado to get ahead of impending regulation of the state's burgeoning medi-pot industry – putting millions into state coffers.

August 1 marked the filing deadline for Colorado's medi-pot entrepreneurs to submit applications to get on the state-regulated pot-sales train. In all, the state received 2,000 applications for licenses to run state-regulated medi-pot businesses – including pot dispensaries and growing operations – netting the state $7.34 million in application fees alone. Currently, the state has roughly 1,100 pot dispensaries for qualified medi-pot patients and 700 of those operators have filed for a state license, outpacing what officials expected, reports the Marijuana Policy Project.

The race to the gate comes in response to a new law that seeks to rein in – and "professionalize," as the Denver Post put it – the growing industry, even though the precise rules for dispensary operations haven't yet been written, and won't go into effect until next July, the daily reports. At a cost of $7,500 to $18,000 each, it seems fair to assume that the applicants see a future in pot in Colorado. Indeed, according to a May Rasmussen poll of likely voters, 49% in Colorado said they would support a tax-and-regulate-like-alcohol approach to overall pot legalization.

A note to readers: Bold and uncensored, The Austin Chronicle has been Austin’s independent news source for almost 40 years, expressing the community’s political and environmental concerns and supporting its active cultural scene. Now more than ever, we need your support to continue supplying Austin with independent, free press. If real news is important to you, please consider making a donation of $5, $10 or whatever you can afford, to help keep our journalism on stands.

Support the Chronicle  

READ MORE
More Marijuana
APD (Finally) Ends Low-Level Marijuana Enforcement
APD (Finally) Ends Low-Level Marijuana Enforcement
Chief announces move, six months after Council told him to

Austin Sanders, July 2, 2020

Abbott Orders Texas Prosecutors to Enforce Marijuana Laws
Abbott Orders Texas Prosecutors to Enforce Marijuana Laws
Travis County D.A. says dismissals will continue

Kevin Curtin, July 18, 2019

More Medi-pot
California Judges Overturn Medi-Pot Restriction
California Judges Overturn Medi-Pot Restriction
Ruling backs patients' possession rights

Jordan Smith, Jan. 21, 2010

Medi-Pot Roundup
Medi-Pot Roundup
Reefer Madness fills you in on the latest in medical marijuana news

Jordan Smith, June 5, 2009

More by Jordan Smith
'Chrome Underground' Goes Classic Car Hunting
'Chrome Underground' Goes Classic Car Hunting
Motoreum's Yusuf & Antonio talk about the biz and their reality TV debut

May 22, 2014

APD Brass Shifts Up, Down, Across
APD Brass Shifts Up, Down, Across
Musical chairs at Downtown HQ

May 9, 2014

KEYWORDS FOR THIS POST

medi-pot, Colorado, marijuana, drug war

MORE IN THE ARCHIVES
NEWSLETTERS
One click gets you all the newsletters listed below

Breaking news, arts coverage, and daily events

Can't keep up with happenings around town? We can help.

Austin's queerest news and events

New recipes and food news delivered Mondays

All questions answered (satisfaction not guaranteed)

Information is power. Support the free press, so we can support Austin.   Support the Chronicle