Consultants encourage haste in entering Virginia’s marijuana market
ROANOKE, Va. (WDBJ) - If you’re looking to get in on the future business of marijuana in Virginia, you ought to start working on that now. That was the advice the Gentry Locke consulting team doled out in an hour-long webinar Tuesday morning to nearly 400 attendees.
During the free virtual session, they presented an overview of the General Assembly’s cannabis legalization bill and explained the framework for the regulatory process.
Consultants say specific licensing requirements are still unclear - but the time frame for the regulatory process will likely move quickly and aggressively.
“So we’ll take another year before regulations, before we see regulations,” said Patrice Lewis, one of the Gentry Locke Consultants. “Then another year before they can accept licenses. So applications, 2023. And then another year before we’re allowed to see the sale of marijuana within the state of Virginia.”
The consultant team says the licenses for all levels of business, from cultivation to retail, will be limited.
They emphasized the Virginia Cannabis Control Authority will have broad discretion in determining how and where the businesses develop.
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