CLEVELAND (AP) — Long-time natives and out-of-state investors are among hundreds of applicants trying to win approval to grow medical marijuana in Ohio.
The state accepted applications in June and now has to decide among 185 submissions for 24 cultivator licenses. Investors say they plan to spend millions if they’re selected.
Among those who applied are construction magnates, toy tycoons and an heir to the Jim Bean whiskey fortune. Former Olympic basketball player Oscar Robertson has invested in a venture as well.
Ben Kovler, a Chicago investment banker, is the son of a former president of Jim Beam and one of the applicants. Among the others: Brian Kessler, whose father patented an early version of the hula hoop, and Dana Smoot, legal counsel for Columbus-based Smoot Construction.
Some applicants wish Ohio had implemented “locals-only” rules because of the high stakes involved. Legal experts have questioned whether a quota for minority-owned businesses would stand in court.
But applicants agree that Ohio’s marijuana program has gone smoothly so far. The state hasn’t announced when licenses will be issued.