Illinois Craft Cannabis Growers Get Major Deadline Extension

Even with the extension, some growers are concerned about raising enough capital.

The 88 social equity craft cannabis growers awarded permits by Illinois last year were granted a reprieve this past week, when the state Department of Agriculture pushed back a March 1 deadline to be operational by more than a year for many of those licensees.

For the first round of growers, their deadline is now Feb. 1, 2024, and for the second round, it’s Dec. 1, 2024, Illinois Public Radio WBEZ reported.

Even with the extension, however, many are uncertain they’ll be able to raise the capital they need to get open by then. Several told WBEZ they’re trying to raise several million dollars for build-outs and other expenses, and capital is tight.

The Illinois market expansion via social equity licenses has been underway for years but has endured multiple delays. So far, only two of the 88 have opened for business, IPR reported, and there are another 21 that already service the Illinois recreational cannabis market.

John Schroyer


Leave a Reply

Your email address will not be published.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

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 29 mins

The 2023 Winners of the GMR Women’s Leadership Awards

@GreenMarketRpt – 10 hours

Missouri Marijuana Shortage Drives Up Prices

@GreenMarketRpt – 13 hours

Thank you to everyone that came to the Summit today. Thank you to our sponsors! @SafeHarborPB…

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.