LITTLE ROCK, Ark. (AP) — The Arkansas Department of Finance and Administration says two businesses have applied for licenses to grow medical marijuana and five have applied for licenses to sell it.

Arkansas State of Kind became the first medical-marijuana business applicant to go public Thursday, the Arkansas Democrat-Gazette reported. The business seeks both a dispensary and cultivation license.

Arkansas State of Kind CEO Jason Martin said he expects to begin selling medical marijuana by the middle of 2018 if both licenses are approved by the end of the year. The company plans to grant franch...