The medical cannabis market in Kentucky is poised to make waves with its new program kicking off very soon. In October 2024, a lottery will award 48 new retail licenses for the entire state. With a population of 4,500,000, this means there will be one store for every 93,750 residents, which is more than Ohio, one of the strongest markets in the US.
Here is some background information to help you understand the potential of this upcoming opportunity:
– 48 dispensary licenses will be divided among 11 regions. More than 93,750 residents per store, which is more than Ohio.
– The application period runs from July 1 to August 31, so things are moving very quickly. The process will be conducted as a lottery and is scheduled to be drawn in October 2024.
– Real estate is required to apply. CannDev is working hard in Kentucky to provide retailers with properties to apply with.
– Local governments can opt out of cannabis businesses, but citizens can petition to be opted back in by local ballot measure.
– The application fee is $5,000. Very important: Applicants can only apply once per region. That means 11 lottery tickets per applicant, since there are 11 regions to apply for.
CannDev is soon to share some off-market retail properties in Kentucky to our private Kentucky list. Please click on the link below to gain access.
Gain Access to our Kentucky Off-Market Deals Here
Who is CannDev?
CannDev is a cannabis retail developer and real estate partner. Since our inception, we have put into development over 100 cannabis retail deals throughout the United States.
If you are a cannabis retailer looking to expand aggressively, we can be another option for you to work with. As a real estate partner, we find locations, secure them, make sure they are compliant for retail and more.
We also provide data and analysis related to site selection, such as traffic counts, parking data, drive time demographics and more.
