About Grassroots Vermont
Grassroots Vermont holds one of only five medical cannabis licenses issued by the state of Vermont and currently occupies one dispensary and a 6,900 square-foot cultivation and processing facility in Brandon, VT. The Vermont medical cannabis statute was amended in July 2017 to permit each license holder to open a second retail location. Grassroots Vermont has identified a location for its second dispensary facility in Williston, VT in Chittenden County, which is one of the more densely populated areas in Vermont. Grassroots Vermont cultivates its own indoor cannabis and produces its own natural, world-class products, with a focus on providing pure, effective, and affordable cannabis products to patients across the State.
Operational highlights for Grassroots Vermont:
- Revenue in FY 2017 totaled US$1.0 million, representing a 47.2% increase from FY 2016;
- Plans to begin construction on its second dispensary location in Williston, VT, in Q3 2018, pending regulatory approval;
- Recently completed significant upgrades to the facilities, including a commercial kitchen, processing capabilities, and an increase of grow space that will be able to support 200,000 grams of annual production, allowing for increased supply, improved yields, and enhanced product quality; and
- Launched a statewide delivery service in Vermont.
Why We Love Vermont
Since dispensaries opened in 2013, the Vermont Marijuana Registry has experienced tremendous interest and growth in patient registrations. Further expansion has been driven by the authorization of a delivery program in 2014, addition of qualifying conditions to include Parkinson’s, Chron’s disease, and PTSD, and allowing one additional dispensary location for each license. With only four dispensaries currently operational in the state, Grassroots Vermont has the opportunity to serve the State with limited competition.
In January 2018, Vermont became the first state to legalize recreational cannabis via legislative action. Recreational possession is legal as of July 2018, but regulations regarding dispensary sales have yet to be released. Registering 13,000,000 tourists every year, Vermont has the potential for a vibrant adult-use market. In 2015, the State commissioned a white paper from the Rand Corporation on the potential size of the adult use market in Vermont. It was estimated that the market was over US$100 million of sales and the industry would be a significant generator of tax revenue for the State1. Market estimates indicate a recreational market of approximately US$100 million.
1. The Rand Corporation January 2015