By Steve Elliott
Hemp News
Prospective medicinal cannabis businesspeople in Illinois say the high cost of entry will prevent many with expertise from entering the new industry. Under proposed rules for the new law legalizing medical marijuana in Illinois, would-be cannabis farmers need a $2 million surety bond, $250,000 in liquid assets, $25,000 for an application fee, and $200,000 for a permit fee, as well as an approved site.
"We have the know-how," said Robert Boyce, who grows vegetables, flowers and herbs in greenhouses in Lake Zurich, reports Robert McCoppin at The Chicago Tribune. "We have the manpower, the familiarity with growing herbal and medicinal plants, knowledge of building greenhouses. But right now, you're looking at three to five million dollars in startup costs."
Yes, it seems having a green thumb isn't as important as having a lot of green, if you want to enter the medical marijuana industry in Illinois.
While state regulators claim initial costs could vary widely, they say they want to ensure that those who want to run medical marijuana cultivation centers or dispensaries have sufficient money to operate, especially early on when they have to make big investments before having any revenue.
