Rhode Island CANNABIS CONSULTANTS
Higher Yields Cannabis Consultants offers a full range of cannabis consulting services in the state of Rhode Island. Our vertically integrated consulting system offers a path to business success. From startup to scaling and expansion of your cannabis-related business and everything in-between our team of industry experts can help. If you have any questions please contact us online or call (844) HI-YIELD.
The Latest News in Cannabis Opportunities in Rhode Island
Recreational use of marijuana in Rhode Island is currently considered a civil infraction and will result in a range of penalties from fines to lengthy prison sentences, depending on the quantity in possession.
Medical marijuana is legal in Rhode Island, and qualifying patients and caregivers can obtain up to 2.5 oz of medical marijuana every 15 days. Currently, there are only three licensed medical marijuana dispensaries in Rhode Island, but in July 2020, state medical marijuana regulators began to accept applications for six additional new medical marijuana dispensaries. Rhode Island currently has roughly 18,000 medical marijuana patients, and with only three dispensaries, it has one of the highest rates of patients per dispensary in the U.S.
The licenses for the six new medical dispensaries will be awarded on a lottery basis, with one permit issued in each of Rhode Island’s six geographic zones. The application deadline is Dec. 15, 2020, which gives regulators time for municipalities to hold public hearings regarding location decisions.
There are currently 56 independent medical marijuana cultivators in the state. The six new dispensaries are expected to be required to obtain their product from these cultivators.
Rhode Island’s governor, Gina Raimondo, is supportive of legalizing recreational marijuana use in the state and has continuously pushed the state legislature to legalize. Raimondo and other marijuana advocates in Rhode Island have noted that most of their New England neighbors have legalized marijuana, and they are losing potential revenue to neighboring states, especially Massachusetts.
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History of Marijuana in Rhode Island
In 2006, Rhode Island became the 11th state to legalize medical marijuana. Recreationally, possession of small amounts of marijuana is decriminalized and subject to civil penalties, usually in the form of fines.
Rhode Island has some of the strictest mandatory minimum sentences for possession of large amounts of cannabis — possession of more than 5 kg has a mandatory minimum sentence of 20 years in prison with the possibility of life in prison.
Representatives in the Rhode Island General Assembly have introduced bills to legalize marijuana every year since 2011 without successful legalization.
Rhode Island Cannabis Consulting services
At Higher Yields Cannabis Consulting (HYC), our cannabis consultants are here to assist you with planning and building your cannabis business in Rhode Island. Our team of canna advisors are well-versed in local laws on compliance, and we offer services that assist you in building your brand, creating your marketing plan, designing your website and assets, crafting your social media presence, and much more to help your business see success.
Contact us at (844) HI-YIELD to learn how we can assist you.
Marijuana market conditions in Rhode Island
Currently, the medical marijuana market in Rhode Island is a lucrative industry, generating over $60 million dollars a year. As the number of medical marijuana dispensaries is set to triple within the next year, the market for medical marijuana may grow.
It’s also possible that marijuana will be legalized within the next several years as more and more of Rhode Island’s neighbors legalize recreational marijuana. The majority (59% in 2017) of Rhode Islanders support recreational legalization, which may put political pressure on the state to fully legalize.
Higher Yields Cannabis Consulting is Ready to Help Your Business
The cannabis market in Rhode Island, both medical and potential future recreational, is strong and has the potential for future growth. The cannabis industry experts at Higher Yields Consulting (HYC) can help you navigate this industry that is promising, albeit complicated. Their team of experts can assist you in all aspects of navigating the marijuana industry, from compliance and legal matters to designing and marketing. The professional consulting services provided by HYC will ensure your cannabis business endeavor is as seamless and competitive as possible.
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