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Cannabis Control Board briefs committee on licensing, revenue and hemp-derived-product challenges
Summary
Representatives of the Cannabis Control Board described the agency’s licensing rollout, market size and regulatory challenges including intoxicating hemp products and local odor/nuisance concerns; they recommended expanding business-support funding for small cultivators.
James Pepper, a member of the Cannabis Control Board, and board colleagues briefed the committee on Jan. 24 about the shape of Vermont’s licensed cannabis market, licensing counts, tax revenues and regulatory challenges.
"We have 601 licensees, amongst the 7 license types," Pepper said, describing a licensing ecosystem weighted toward cultivators and small-scale operators. He said roughly three-quarters of cultivators are "tier 1" small growers.
The nut graf: the board said the legal market has grown faster than some projections, producing material excise and sales-tax receipts, but the market faces long-term questions from competition (border states and tourism flows), an unregulated intoxicating hemp product market, and structural disadvantages for cannabis businesses…
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