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Ohio weed companies in limbo while lawmakers decide on Issue 2 changes
Klutch Cannabis, Akron, is preparing for big changes after the recent passage of recreational cannabis. However, these changes are dependent on Republicans at the statehouse.
AKRON (Ohio) — Klutch cannabis in Akron, Ohio, is preparing for big changes after the recent passage of recreational pot. However, these changes are dependent on Republicans at the Statehouse.
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“We are waiting to see if there are any changes made, and also waiting for the whole rule package to be implemented and work its way throughout the system,” said Pete Nischt. Vice President of Compliance and Communication, Klutch Cannabis.
Nischt said that the company is waiting for plans to expand its grow operations and retail store. The company wants to be ahead of production so that dispensaries are ready for legal sale in late 2024.
“There are a lot of things that need to be done before the program can go online,” Nischt said.
Klutch Cannabis, for example, is a Level 1 cultivator. This means that the company can currently grow up until 25,000 square foot. However, the Department of Commerce recently approved the company to grow up until 50,000 square foot. Since Issue 2, they want more space.
Nischt said that he understood that Issue 2 would increase the size of this license class from 50,000 to 100,000 square feet. “There are many approvals needed both locally and by the state, and I believe a large part of it depends on the market demand and whether this makes sense for the business.”
Another unknown is the amount of demand. Nischt is concerned that the proposed changes to the 10% tax rate, and how it’s distributed, could make marijuana too costly for some customers.
Nischt said that it would take time to tax, regulate, and do other things with the revenue. “Some of the state’s capacity to do that will depend on policy decisions made here.”
Klutch Cannabis has two medical stores in Lorian and Canton. Nischt said that these locations will increase adult-use sales. The company is also looking to build a third storefront if local officials approve. Nischt said that patient care would remain a priority.
“I think that when Klutch was founded as a medical cannabis company, it was a good idea. [recreational marijuana] Nischt said that the possibility of a new technology was always in the back of our minds. “We’ve had it in our minds for a while, but were focused on doing the best we could for our patients.”
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