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Nevada to accept applications for medical marijuana establishments

RENO - The day some medical marijuana businesses have been waiting for is here. The state will start accepting applications for those hoping to become medical marijuana establishments in the Silver State on Tuesday.

Nevada's recent entrance into the medical marijuana industry has potential business owners interested in setting up shop in the Silver State. Hundreds are expected to apply statewide and only a few will be selected -- making the application process very competitive and attracting the interest of some of the industry's most respected companies.

"I want to pay taxes, I want to be apart of the community, be apart of my neighborhood and be a small business like anybody else," CEO of Good Chemistry Matthew Huron says.

Dozens, possibly hundreds, will apply to become a business that can dispense medical marijuana in Washoe County and only 10 will be selected. Applications for the state are expected to file in within the next two weeks. The process opens the door for companies like Good Chemistry out of Denver, Colorado to make their mark on Northern Nevada.

"For that we need to be regulated, we need to have transparency and so regulation is our friend," Huron says. "Northern Nevada from our assessment of the country is really probably the number one location in the country to cultivate marijuana," Huron says.

Huron believes in the power of medical marijuana and its life changing impact on patients. To him, the more regulations the better.

"For me the regulation is something that is the key to our industry and the key to medical marijuana's success in this country," Huron says.

It's an extremely competitive process. Once the applications are submitted, the state will have 90 days to make their selections.

"You know people get into this business thinking they can make a quick dollar and it's really not. It's like any other business. It takes a lot of hard work and you know you have to develop the market, you have to develop your brand, you have to develop a patient base and folks that are excited to shop at our dispensary and that takes time," Huron says.

Time, Huron says, they are willing and want to take -- like any other business, he says they want to invest back into the community.

"In Colorado when we moved into the neighborhood we are in the building was empty for about 5 years there was a lot of riff raff in the neighborhood and what not we came in and invested a significant amount of money into the building. We at first had resistance from the neighborhood association we now sit on the board of the neighborhood association. In fact, the police have used our cameras to help solve crime and so we have been a huge addition to the neighborhood and we expect to be the same here," Huron says.