Will Arkansas face a marijuana shortage as a result of the strict rules to set up a cultivation company? According to an article on the Hemp Gazette, the application deadline for cultivation licenses is nearing, and not a single entrepreneur or company has expressed interest in applying.
Some say this has to do with the strict rules and restrictions to apply for one of the five available cultivation permits in Arkansas. Hemp Gazette reported that marijuana cultivators will have to find USD $100,000 a year to operate a facility, have a $1 million bond or equivalent assets plus be able to show $500,000 in cash liquidity. Additionally, there’s a $15,000 application fee.
Arkansas was one the states that opted for medical marijuana cultivation during the November elections. Where other states like Pennsylvania underwent difficulties in dividing pieces of the cake, Arkansas cannabis entrepreneurs seem to have no munchies for the cake at all. Well, at least with the strict requirements to apply for a cultivation permit.