Cannabis Consulting Firm in New Mexico
The governor of New Mexico claims that marijuana legalization is one of the state’s largest priorities for 2021. Additionally, the general public in New Mexico has been leaning towards legalization within the state. With that, our cannabis consulting firm is excited to hear that an adult-use market is now legal in New Mexico. Licensing opportunities will be available soon. So, if you want a cannabis business in New Mexico, make sure to talk to our cannabis consulting experts about getting a head start on your application.
Legal Adult-Use Market in New Mexico 2021
The governor of New Mexico signed a bill to legalize a potential $425 million adult-use marijuana market. We can expect retail sales to begin no later than April 1, 2022.
With that, residents of New Mexico are demanding equity and criminal justice within the bill. Within this bill, the commission, the department of environment, and the department of agriculture will regulate and license cannabis businesses. If this bill is approved, the board will begin issuing licenses no sooner than June 1, 2022. Our cannabis consulting firm in New Mexico can assist you with application writing so that you can win a license.
It is never too early to start your application for a cannabis business in New Mexico. For more information on how you can win a cannabis license in New Mexico, contact our cannabis experts at Quantum 9.
Current Medical Marijuana Market in New Mexico
As of now, 4.37 percent of New Mexico’s population are registered, medical marijuana patients. Medical marijuana sales in New Mexico reached $180 million in 2020 and sales are expected to reach $220 million in 2021.
With that, it is projected that a recreational market in New Mexico will generate $425 million in sales by 2024.
Adult -Use Personal Cannabis Use Rules in New Mexico
Any person over the age of 21 can possess and use cannabis products in New Mexico. Individuals can have no more than 2 ounces or 16 grams of concentrates on them. You can not consume cannabis products outside of your private residence.
The bill also includes a section where they state that it is unlawful to sell cannabis without a license. Additionally, they include a plethora of consequences for those who violate the age limit or sell cannabis unlawfully.
Adult-Use Cannabis Licenses in New Mexico
New Mexico shall offer different cannabis licenses for their adult-use market. These license types include:
- Vertically Integrated Cannabis Establishments
- Testing Laboratories
- Integrated Cannabis Microbusinesses
- Producer Microbusiness
- Training and Education Programs
- Research Laboratories
- Consumption Areas
These licenses are valid for 12 months and can be renewed annually. No license shall be transferable or assignable from a licensee to another person.
All of these licenses allow you to perform different tasks. Contact our cannabis consulting firm in New Mexico for more information on these licenses so you can apply for the one that best fits your business needs. Additionally, the division does not limit the type or number of licenses that a licensee may be issued. Also, multiple licenses can occupy a single licensed premise, and the division shall not place a restriction on the number of licenses occupying a single-licensed premise.
Local Jurisdiction Control
The department also creates certain rules and regulations for cannabis business licenses in New Mexico. Local jurisdictions make rules for cannabis establishments that can sometimes be restrictive. For example, a local jurisdiction can require that any cannabis establishment that provides a cannabis consumption area be located a certain distance away from any schools or daycare centers.
However, although local jurisdictions have the ability to regulate cannabis businesses, they are not able to:
- Prevent any licensed person from transporting cannabis products on public roads
- Completely prohibit the operation of a cannabis business license
- Prohibit or limit signage that identifies a business as a cannabis establishment
- Require a cannabis establishment or cannabis consumption area be located more than 300 feet from a school or daycare that existed when the cannabis establishment or consumption area was licensed
- Require an existing cannabis licensee to relocate to new premises
- Lastly, the jurisdiction is not able to prohibit an adult New Mexican from growing cannabis within their home
Cannabis Business Plan for New Mexico
In order to obtain a marijuana business license in New Mexico, you need to apply for a license. We can expect licenses to be limited and competitive, which is why we recommend our cannabis consulting services to help you write a successful business plan so that you can get the business that you want.
Here are some of the rules that the commission creates in regards to marijuana licenses in New Mexico:
- Procedures for the issuance, renewal, suspension, or revocation of licenses
- Qualifications for licensure that are directly related to operation plans
- Security requirements for the establishment
- Inspection of a cannabis establishment
- Recordkeeping and tracking of cannabis
- Labeling and language for cannabis labels
- Rules for advertisements
In addition, the commission prioritizes that you run your cannabis business in a safe and efficient manner. So, when you apply for a cannabis business license and write your business plan, there is information that you must have. This includes:
- How you will keep up with health and safety standards
- Standards for quality control and the inspection and testing of cannabis
- Standards for food and product safety
- A plan for how the business will be safe and sustainable for the environment
- Standards for natural resource protection, water quality, water supply, hazardous materials, pesticide use, and wastewater discharge
All of the above information can make or break your application. Contact our cannabis consulting firm for additional assistance on these business plans.
Expected Timeline for Cannabis Licensing in New Mexico
To begin with, the bill includes a few dates that include cannabis licensing procedures in New Mexico. The expected timeline for cannabis licensing is yet to be determined. We can expect the timeline to move fast, and for licensing opportunities to be available relatively soon.
No later than January 1, 2023, the commission in New Mexico shall develop a plan to encourage racial, ethnic, gender, and geographic diversity among the licenses. From this bill, we can expect social equity to be an important part of the application. Our cannabis consulting firm in New Mexico has experience in application writing and social equity provisions. As always, contact us for additional assistance on your application.
When it comes to the number of cannabis licenses available in New Mexico, the department will monitor the supply and demand of cannabis products produced in New Mexico by licensees. With this, they shall make sure that medical marijuana patients in New Mexico have enough products for their needs.
Additionally, the division will also establish application and licensing fees applicable to licenses for commercial cannabis activity and activity related to the medical marijuana market in New Mexico.
Contact a Cannabis Consulting Firm in New Mexico
Finally, a legal recreational market in New Mexico is likely for the next year. Follow our page to keep up with the latest news so you can apply for a cannabis license when the time comes. It’s never too early to start preparing. In fact, you increase your chances of winning by preparing early. Thus, we encourage you to reach out to our cannabis application consultants as soon as possible to learn how we can drastically increase your chances of winning a license.