Massachusetts saw it's first 100 bids to open the inaugural set of Medicinal Marijuana Dispensaries in the state and will announce the eligible applicants on January 31, 2014. Yet, due to a last-minute rule change, many of the potential dispensaries are bowing out of the process due to the financial requirements. Each company is required to provide proof that they have $500,000 cash currently in the bank and ready to be used to start-up costs.
Prior to the announcement of this rule change it was understood that businesses could provide proof that their financial backing was pledged by investors. With the change many of the potential businesses were forced to revoke their applications, but a solid group are still marching forward with plans.
As of December the state of Massachusetts will officially have a committee for the purpose of deciding which dispensaries can officially open for business under the current set of laws. Out the applicants, 35 permits will be dispersed with a maximum of five per county.
Get more information from the Massachusetts Department of Health & Human Services.