Connect with us

Marijuana Movement

Cresco Labs and Green Thumb Could See Stiff Competition Within the Illinois Marijuana Industry

George deGeyter



Cresco Labs and Green Thumb Could See Stiff Competition Within the Illinois Marijuana Industry

The Illinois Department of Financial & Professional Regulation has decided to authorize marijuana sales by medical cannabis providers effective January 1st, 2020, reports Crain’s Chicago Business.

As per the claims made, the aforementioned agency, who overlooks the necessary licenses, will give the 55 existing medical marijuana retail shops the opportunity to sell marijuana for recreational purposes once they apply for the necessary licenses.

The main reason for this approach, which was written in a 600-page bill, is to eliminate the obstacle in recreational use of marijuana sales led by governmental indecision. That said, two of the most prominent businesses in the state, Cresco Labs and Green Thumb Industries (GTI) might run into some problems.

Currently situated in Wrigleyville, Cresco Labs wants to move its MedMar dispensary to the John Barleycorn tavern because its present 900-square-foot facility is fully occupied, hence needing a bigger lot. Similarly, GTI’s Naperville medical dispensary might be at risk as the City Council wants to halt marijuana for recreational purposes.

Senator Heather Steans, who is also the co-sponsor of this possible law is aware of the commotion this will cause amidst recreational marijuana users, highlighting that “We know they [businesses] need more space because they’ll have more customers.”

Applying for recreational-use permits has a deadline of September 1, which is just around the corner. Given that both Cresco Labs and GTI have 5 locations each, this implies that each location requires a permit.

In the meantime, businesses are racing to the finish line to ensure that they have the best and busiest locations to operate in, as shared by a representative from Cresco Labs. All that said, businesses are required to wait for the city’s Board of Zoning Appeals to share their verdict in terms of the special-zoning needed to sell marijuana.

George deGeyter is a professional Canadian writer with over a decade of experience getting his start in 2007 while obtaining his bachelor’s degree in accounting and humanities. Boasting a personal library of hundreds of books on a wide range of topics, George loves to write on a vast array of topics including health, technology, pets, beauty, gardening, business careers and has added CBD and hemp to his repertoire here at COR.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Join Us On Facebook


Trending CBD News

TimesofCBD always fact checks sources and aims for the best accuracy in the reporting curated cannabis content consisting of the latest CBD news, user guides and product health research. Quality is the priority, but we are not eligible to be liable as everything here is for educational, informational purposes only. Always seek real additional medical advice and consultation with a professional healthcare practitioner before considering any CBD. No statements found on this website have underwent Food and Drug Administration evaluation. The efficacy of any products or claims made have never been approved by the FDA either. No products shall ever be intended to diagnose, treat or cure any disease or prevent any ailment.

What Is CBD?