David Couch, the lawyer who authored Issue 7, the constitutional amendment that passed in the November 2017 election, doesn't believe there is anything to be worried about. "There's no incentive to turn in an application early," Couch said. It makes sense to not get in a rush, and make sure all T's are crossed and all I's are dotted.
However, as the September 18th deadline approaches many applicants seem to have completed their applications and submissions have started. Wednesday, August 30th was the busiest day of application submission since the commission began accepting applications on June 30th.
The fee to file an application to operate a marijuana dispensary or cultivation facility in Arkansas totals $15000.
Proof of assets or a surety bond in the amount of $1 million and proof of at least $500,000 in liquid assets is also a requirement. There has been much discussion on the financial requirements of applying, from both sides of the spectrum. From complaints about how the ordinary man is now excluded from applying due to the cost to justifications for the fees due to the finances it requires to operate a successful operation in a state that wants to be successful from the start by having product available asap.
Arkansas is split into 8 geographic zones for regulation of the medical marijuana industry (you can see those zones here). Some industry officials have estimated that 20,000 to 40,000 people in Arkansas will apply for medical marijuana. As of September 1st, 2017, according the Arkansas Cannabis Industry Association, 863 patients have been approved through the Arkansas Department of Health, with 1006 in progress. This is a long way from the estimated numbers, but without dispensary and cultivation application approval, and an estimated wait until the end of 2017, prospective applicants aren't in a rush.
I will be updating steemians on the state of Arkansas Medical Marijuana in the coming weeks. With the application deadline fast approaching, things are about to get busy.
Sources:
Arkansas Times - Meaningless news: number of applications so far submitted to grow or sell medical marijuana
Talk Business and Politics - Medical marijuana business applications see end-of-the-month surge