New Mexico is now currently accepting applications for medical cannabis manufacturer licenses with no deadline for submission.
A manufacturer in New Mexico is defined as a business entity that manufactures cannabis-derived product that has been approved for this purpose by the medical cannabis program. Any independent manufacturer interested in applying will need to submit an authorized application form to the program with each initial application with a fee of one thousand dollars ($1,000) issued to the Medical Cannabis Program.
Applicants will also need to include a description and sample of the opaque, child resistant packaging of the concentrate or cannabis-derived product that the manufacturer will utilize within their application.
Additionally, a manufacturer applicant is able to submit any other information deemed important by the applicant or department, as they may request more information for the initial approval or for periodic evaluations during the approval period.
For the first quarter of 2020, medical cannabis sales in New Mexico reached $40.1 million. This is a 43 percent, or $12 million, increase over the first quarter sales of 2019. The state also saw a 20 percent increase in medical cannabis patients over the same span last year, which could be an effect of the coronavirus pandemic.
Gov. Lujan Grisham voiced her support for recreational cannabis legalization earlier this year. In a January announcement, legalization could generate more than 10,000 agricultural jobs and a possible $100 million in tax revenue.
Legalization efforts were thwarted earlier this year during New Mexico’s regular 2020 legislative session when legislatures in a House committee killed House Bill 160. However, the governor has said that she is still open to letting voters decide on the issue through a ballot measure.
In 2019, marijuana legalization reform legislation was able to pass the full House and Senate committees, but ultimately stalled. While legalization didn’t pass in 2019, the governor did sign a more limited bill to decriminalize marijuana possession.
Gov. Lujan Grisham then assembled a panel of experts who released their report that detailed their recommendations for a marijuana legalization plan in October 2019 and provided a road map for lawmakers to follow during the 30-day legislative session, that is now officially underway. That same month, the group commissioned a poll showing that 75 percent of New Mexicans are in favor of legalization.
Moreover, Gov. Lujan Grisham announced on May 20 that the state needs to explore every option for economic relief, and that includes passing marijuana legalization. Near the end of Gov. Michelle Lujan Grisham’s livestream addressing the state’s coronavirus response efforts, she reiterated her support for legalizing recreational marijuana to generate tax revenue to offset financial challenges cause by the pandemic.
“Let’s end on a high note, Gov. Lujan Grisham joked before adding that she believed the state would be in better condition economically if lawmakers had legalized recreational marijuana during this year’s regular session.
New Mexico’s application process for medical manufacturer licenses is currently open with no current deadline for submission and the governor is still pushing for recreational legalization. To begin preparing for the current medical manufacturer license or future recreational business opportunities, our Marijuana Business Starter Package includes everything you need to get started.
The package includes an informational overview of state specific marijuana laws and program, our Marijuana Business Application Guide & Checklist, Marijuana Business Plan Template and our Marijuana Dispensary and Cultivation Financial Plan Template.