Cannabis insiders look for solutions amid declining medical marijuana license rates. – WPTZ

As the budding industry of retail cannabis continues to grow in Vermont, medical marijuana dispensaries have reported a decline.In 2018, the number of medical licenses was well over 5,000 across the state. That number has been nearly cut in half today. Since the first retail shop opened in October of 2022, several businesses and cultivators have bloomed in Vermont. Industry insiders said the first year of sales was better than expected but came at a cost to medical dispensaries here before the retail sale boom.”From Oct. 1, 2022, when the first retail shop opened through Dec. 31, 2023 we’re at about $118 million in taxable sales,” said James Pepper with the Vermont Cannabis Control Board. While the numbers come as welcomed news, medical marijuana dispensaries have reported a decline, which Vermont’s Cannabis Control Board says was to be expected.”This was a very predictable outcome of having adult use; the patient is just going to go to the closest dispensary and may have to pay the 20% tax on the product, but at least they don’t have to drive 30 miles round trip to get there,” said Pepper. While more retail storefronts are expected to pop up across the state

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