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As we reported last week, State Health officials don’t know when they will issue 5 licenses required by law to grow legal marijuana. When the licenses are issued, it will become an expensive investment, and as Mike Vasilinda tells us, those applying to grow legal pot are looking to the future for profits.

In British Columbia, Canada, investors spent 30 million setting up a marijuana growing and processing facility. Named Tilray, It serves the countries medical marijuana patients. On a tour, Tilray President Greg Engle pointed out heavy security that was evident at every turn.

“Intrusion sensors everywhere. We have to have a two foot gap beside it, so very high security” says Engle.

The company has partnered with two growers in Florida, one in the northeast and the other in the southeast regions of the state, to grow legal pot here. Their Canadian grow house offers a look at how a Florida operation could look.

Senator Audrey Gibson (D-Jacksonville) was one of two Florida lawmakers on the tour. She was impressed.

“I like the set up, and I like the security they have in place. I think it would be a good model for Florida to follow” says Gibson

Those who have applied for licenses are actually betting on the future. Not what the current law will mean for their profits.

Florida Growers can expect a seven to nine million dollar investment…far less than the Canadian facility, in part because of the weather.  Still, says Jeff Sharkey, the President of the Florida Marijuana Business Association says earning profits under the current law could be an uphill battle.

“I would guarantee you that everybody who has applied is anticipating an expanded regulatory framework of additional medical conditions for more patients” says Sharkey.

Right now only an estimated 9 thousand people would qualify under the current law. But if voters or lawmakers approve full blown medical marijuana…there could be half a million patients. Which is why investors are willing to take a risk.

Once the state selects 5 growers, they’ll have a week and a half to post a five million dollar performance bond.