By New York’s first adult-use cannabis sales permit deadline arrived Monday, with hundreds of applicants now awaiting feedback from the state.
Monday’s deadline came a month after the state’s Cannabis Administration officially opened its application portal on August 25.
Since then, the agency has been inundated with applications from individuals hoping to be the first to crack the Empire State legal marijuana market.
Earlier this week, new york times report “By Sunday, nearly 500 applications had been submitted,” it added, adding, “Hundreds of people who were unqualified had been turned down but qualified and needed help navigating the state’s online portal. Dozens of people were rejected,” he added.
The state plans to award 150 licenses in the first round this fall, and these licenses will be available to applicants previously convicted of cannabis-related offenses (or family members of those convicted). ) only.
The policy, called the “Seeding Opportunities Initiative,” goes further than most of the so-called “social equity” provisions in other states’ marijuana laws.
“New York State is making history and launching this kind of approach to the cannabis industry that takes big steps to right the wrongs of the past,” said New York Governor Kathy Hochul. Said We announced our policy in March. “Today, the regulations advanced by the Cannabis Control Board will prioritize local farmers and entrepreneurs and create jobs and opportunities in marginalized and marginalized communities. We are proud to become a national model for a safe, equitable and inclusive industry.”
New York City is taking similar steps to enhance opportunities in the emerging cannabis industry for individuals adversely affected by previous marijuana laws.
Mayor Eric Adams announced Last month, it announced a “first-of-its-kind initiative and suite of services to support the equitable growth of New York City’s cannabis industry.”
Known as Cannabis NYC, the initiative will provide “technical assistance to cannabis license applicants, as well as other business services to guide entrepreneurs beyond licensing to thriving businesses,” while also providing “industry Support cannabis entrepreneurs and their workers as they develop.
It also “collaborates with industry stakeholders to create good jobs, small business success, and sustainable economic opportunities while also addressing the harm of cannabis prohibition.” Phase 1 of the law will focus on enabling New Yorkers involved in the judiciary to apply for and secure retail licenses in the state.”
“Today, we are revitalizing our economy and launching Cannabis NYC, the first of its kind to support the equitable growth of New York City’s cannabis industry,” Adams said. I’m here. Said In a press release last month. “The regulated adult cannabis industry is a unique opportunity to enter the ground floor industry for underserved communities that have faced disproportionate rates of drug-related incarceration for far too long. Cannabis NYC sows the seeds of tomorrow’s economy by helping New Yorkers apply for a license and understand how to start and succeed in business.Confidence is your chance to succeed.This is good employment. creating, making small businesses successful, and ultimately bringing equity to communities affected by the ‘war on drugs’.”
New York’s first state-regulated recreational cannabis outlets are expected to open until later this year (the earliest).
But countless small business owners weren’t waiting to embark on the “crash.” New York City, in particular, is flooded with illegal cannabis shops, and state regulators are cracking down on some.
