Since our last update in late summer, dispensaries and retailers have continued to enter the marketplace adding 1,422 new licenses since January 1. Those licenses represent a 20% increase from the 6,927 at the beginning of the year. 26 states added at least one active license this year while Oklahoma retains the lead accounting for 501 of the 1,422 (35%).
- Oklahoma leads with 501 new licenses
- Michigan comes in second with 281 new licenses – up 124% since January 1
- Oregon is third with 91 with California at 90
Below we graphed out four states that have shown strong growth this year. When looked at visually we can see that Michigan is adding at a faster pace than any of the other significant states. For scaling purposes Oklahoma is graphed on the right-hand axis.
One last snapshot we want to share is which states added a high percentage of their licenses in 2020. There are both small and large market states below that includes medical only as well as states with recreational programs. Some may have reached their cap while others will continue to add.
The 2020 Election factors heavily into what we will see from the states that have just voted for new and expanded programs. Early press reports suggest no license caps in Mississippi and New Jersey. Arizona is a different story where existing license holders will be first in line for new adult licenses. Look for a year end recap that will show how the leaderboards finished up in a variety of license categories.
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.