Welcome to the heart of the cannabis industry – Illinois. In this comprehensive blog post, we’ll unravel the intricacies of the cannabis scene in the state, guided by the insightful conversation between two industry experts, Tom and Ian. Both share their experiences and shed light on the evolving cannabis landscape, offering a unique perspective on the challenges and opportunities that arise in the cannabis business.
Tom, a cannabis legal expert, kicks off the discussion by delving into the challenging nature of the cannabis industry. From encountering resistance from accountants to navigating the complex dynamics of buying and selling licenses in limited market states, he highlights the difficulties faced by cannabis entrepreneurs. He even humorously mentions getting kicked out of an accountancy due to a simple question about license classification.
The conversation then shifts to MITA Unshackled, a podcast recorded at MJBizCon 2023, where Tom and Charlie explore various aspects of the cannabis industry. Charlie, a representative from Dispo, a custom packaging, branding, and logistics company, discusses their partnership with the podcast and the company’s commitment to community engagement and giving back.
Tom introduces himself as a key player in the cannabis scene, associated with Collateral Base and headquartered in Illinois. He highlights the complexities of being a cannabis company and shares his journey of winning licenses across the country, starting from Illinois. The discussion seamlessly transitions to Ian, who is the media director for Aerīz, a notable cultivator that operates in multiple states.
Ian sheds light on aerīz’s unique approach, emphasizing their cultivation methodology using aeroponics. aerīz claims to be the largest aeroponic cannabis grower globally, boasting about their premium products like Full Spectrum Hash Oil and unique brands like 93 Boys and Days Off.
Tom takes a deep dive into the history of cannabis legalization in Illinois, starting with the Compassionate Use Act in 2013. He navigates through the challenges faced during licensing rounds and the impact of changing administrations. The conversation touches on the shift from medical to adult-use cannabis, reflecting the state’s progressive stance towards legalization.
The duo discusses the intricacies of craft grower licenses, highlighting the limitations and potential loopholes. Tom explains the evolving social equity landscape and its influence on license distribution, offering insights into the dynamics of the cannabis supply chain.
As the conversation wraps up, Tom expresses his passion for supporting brands and the significant role they play in shaping the cannabis culture. He emphasizes the historical significance of the ongoing cannabis legalization movement and its impact on creating a healthier cultural shift.
Illinois stands as a pivotal state in the cannabis industry, showcasing a rich history, complex regulatory landscape, and the resilience of entrepreneurs like Tom and Ian. This deep dive into the conversation provides valuable insights into the challenges, triumphs, and future potential of the cannabis market in Illinois. For those looking to navigate this complex landscape, the experiences shared by these industry experts serve as a guide to understanding and thriving in the evolving world of cannabis.