SIOUX FALLS, S.D. (KELO) — In one month, South Dakota’s medical marijuana law goes into effect. The state is currently working out what the rules and regulations will look like, but many South Dakotans are already working to be ready to start their own business in this new industry.
“We read all 100 pages on every rule/law that comes out, that’s really focused on understanding as much as you can, making sure that you’re staying legal in the process you don’t want to violate anything,” Josh Wood said.
Josh Wood has worked in business for 30 years but is excited to start a new venture with Dakota Natural Growers.
“We’re seeking a license as soon as the rules come out and the ability to go after said license. We’ve been working on this for eight months,” Wood said.
People from all over the state are also working to get their new business set up surrounding one of the new opportunities medical marijuana will bring.
“There’s people interested in doing retail dispensaries, a number of folks interested in cultivation, then folks that want to do processing or product development and then testing as well,” Ned Horsted, the Executive Director of the Cannabis Industry Association of South Dakota said.
The Cannabis Industry Association of South Dakota is hosting its first industry event this Thursday to help bring all of these interested parties together.
“It’s going to bring in experts from the state, and some national folks to talk about the state of the industry,” Horsted said.
“And collaborating with folks, in my case it’s the business experience, a lot of the folks on the CIASD have experience with cultivation in other states, law, real estate, compliance, environmental, its a very broad, complicated market,” Wood said.
It’s why Wood and other interested business prospects say education is key to getting the South Dakota industry started out on the right foot.
“Everyone wants it done right. We really believe that if this industry is done correctly, compliance, education, safety, etc, that that is going to make a really profound difference in the industry down the line,” Wood said.
The virtual event is Thursday from 4 to 6, it’s free for all CIASD members but anyone can buy a ticket to take part in the event to learn more about getting into the industry.