In another troubling sign of the times, the number of inactive marijuana business licenses in California now surpass active permits.
According to an analysis by SFGate, inactive and/or surrendered licenses climbed to 10,828 compared with 8,514 active licenses.
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Jonatan Cvetko, the executive director of the United Cannabis Business Association, called the California market a “complete failure,” the news outlet reported.
A 2023 rule change allowing cannabis cultivators to consolidate smaller licenses into a large one accounted for 1,071 inactive licenses, state regulators told SFGate.
The number of inactive licenses, per business segment, include:
Distribution: 1,100-plus. Delivery: Nearly 500. Retail: More than 300.
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California’s decline in active licenses, fueled by failing cultivation businesses
Read full article on Marijuana Business Daily
