New York City Opens Third Legal Cannabis Store

Cannabis retailers are operating in the largest U.S. city, but unlicensed locations are thriving despite many efforts to shut them down.New York City Opening for the third time Legal adult cannabis stores in Lower Manhattan on February 13th.

The latest legal store to open is called Union Square Travel Agency: A Cannabis Store, located on East 13th Street between Broadway and University Place. The store sells products including smokeable flowers, edibles, concentrates, and e-cigarettes. website.

“We are building a cannabis industry here in New York State, which is equitable and provides new resources for nonprofits that provide support services to communities,” said Gov. Hochul. statement“This is the latest milestone in our efforts to grow the industry while creating jobs and opportunities for those who have historically been targeted for cannabis violations.”

It is the third legal cannabis store after a nonprofit. housing construction opened on East 8th Street and Broadway, Smack LLC, opened on Bleecker Street last month. The new store leader celebrated the opening during the governor’s announcement.

“A heartfelt thank you to all who contributed to the opening of Union Square Travel Agency: A Cannabis Store. From our wonderful partners at The Doe Fund, who had the courage and innovation to embrace this opportunity. OCM, NY , for New York City, our continued commitment to paving the way for this new industry and ensuring that this legal industry succeeds.The amazing team members who worked day and night to get to this point.Union Square Travel agency CEO Paul Yau of Cannabis Stores said: “Thank you to everyone.”

The store opening is part of New York State’s Seeding Opportunity Initiative and helps advance the state’s goal of fairness in cannabis licensing.

First retail license in New York

The Union Square Travel Agency is also the third Conditional Adult Retailer (CAURD) location. The CAURD license is the “core pillar” of New York State’s Seeding Opportunity Initiative. Under that initiative, New York’s first legal adult retail store will be run by a nonprofit that provides services, including assistance, to those most affected by the war on drugs, or those previously incarcerated. will be

To be eligible for a CAURD license, applicants must themselves have a cannabis conviction or be a close family member of someone who owns or has owned a profitable business for at least two years .

Nonprofits are eligible for CAURD licenses if they also meet a few conditions.

These dispensaries legally sell cannabis products grown by New York Farmers to adults.

“The opening of this third dispensary in Manhattan is the latest milestone in the growth of the cannabis industry in New York State. These new locations capitalize on the growing demand for safe, tested, high-quality cannabis products. While providing an opportunity for local businesses to continue to grow and build a vibrant market, the potential of our nascent market is endless.”

The New York State Cannabis Authority (OCM) has released the final list of applicants to be issued the first retail cannabis licenses in the state. 36 applicants announced November 20th, 2022, selected from 903 applicants. All cannabis sold in New York is subject to a 13% sales tax.