As the cannabis industry in states surges, which is estimated to generate billions of tax revenues, New York officials have had existing funds for market-entry people to start their businesses. We want to prevent what happened with the legalization of the state. This meant that the low-income color communities that were hit hardest in the war on drugs were excluded.
"We will address these barriers head-on," Chris Alexander, Executive Director of the Cannabis Administration State Office, told USA Today Network New York. "We do not wait for how the market develops.
New Yorkers will soon need to navigate a myriad of cannabis licenses, the means to establish a business, and policies designed to curb historic racist practices in address prosecution.
When can you sell cannabis?
Thanks to the state marijuana ordinance and tax law of 2021, adults over the age of 21 can already carry and consume certain amounts of weeds.
But for now, it's still illegal for New Yorkers to sell recreational cannabis. In July, the Cannabis Administration sent a cease and desist letter to more than 50 stores stating that the state sells cannabis illegally.
It will change soon.
The first retail pharmacy to open is from a licensee participating in the coveted Conditional Adult Use Retail Dispensary (CAURD) program. The store is scheduled to open by the end of the year. From there, the state announces more clinics and other licenses for the industry.
Fighting the War on Drugs The state says people convicted of weeds may get the first retail cannabis license in New York.
Who is currently eligible for a retail license?
On July 14, the state cannabis management committee passed a regulatory and CAURD license application. Approximately 150 licenses will be issued to run the new business, with $ 200 million in funding from the state. Companies can expect to receive up to $ 1.5 million to set up a pharmacy. The Qualification is highly selective.
Applicants must show that they or their qualified family members are participants in the judicial system." That is, he was convicted of cannabis in New York before March 31, 2021. At the time of arrest or conviction of an individual in a community adversely affected by excessive police or mass imprisonment, people living in low-income areas are prioritized. Applicants must also prove that they own or control at least 10% of successful businesses. Nonprofits that advocate justice, individuals, and communities with different effects of the cannabis ban are also eligible to apply. Nonprofits need to have a history of not only making a profit, but also engaging in the judicial system and creating career opportunities for affected people as directors and officers.
The application requires information about who owns and operates the pharmacy, the financial interests of the pharmacy, and the contractor of the business. Pharmacies must be at least 51% owned and controlled by law enforcement officers.
When can I apply?
The CAURD application window will open at the end of August. Stakeholders are required to pay a non-refundable registration and license fee of US $ 2,000. The applicant must also indicate the preferred geographic area for operating the pharmacy. Models for the application are already available at Cannabis.ny.gov.
How does this effort repair damage to the color community?
Black and Latin New Yorkers have consistently been overrated in marijuana-related arrests.
states have affected the impact of the marijuana ban. We provide the first licenses to those who feel and provide state funding to support them. Tax revenues from sales are also expected to be returned to the community through education funding, community reinvestment grants, medications, and public education.
However, many of the people affected by the ban may not have started a business, not to mention successful businesses-both are prerequisites for receiving her CAURD. State officials say other cannabis licenses will also review equality standards to ensure everyone has a chance to enter the industry.
Half of all licenses must go to “social and economic justice applicants.” These include people from communities affected by the war on drugs, underrepresented groups such as minorities and women-owned businesses, disadvantaged farmers, and disabled veterans.
Still, supporters say more needs to be done. "The damage is in the billions of dollars," said Regina Smith, executive director of the Harlem Business Alliance, on Tuesday at a workshop hosted by Harlem's Cannabis Control Authority. She pointed out that entrepreneurs need more money to thrive and stay out of debt. "What you did is great, but given the need and damage, it's bread crumbs," she said.
How else can I get into the cannabis industry?
State officials say there are nine applications that span different aspects of the industry, from nurseries to weed bars.
Conditional licenses designed to inspire the industry have already been granted to producers. Initially offered to existing state-licensed cannabis farmers, these licenses were introduced prior to the growing season, allowing cannabis to be harvested in time for the state's first pharmacy. It's done. Currently, there are more than 220 farms in New York where you can grow cannabis for sale. Meanwhile, the application for a separate license to process cannabis products was completed in late June. This license already allows state-approved cannabinoid hemp processors to enter cannabis.
Applicants can only apply for one license type. This is to ensure that the industry is not monopolized by large companies.
Additional license schedules and criteria will be created in the coming months.
Where can I get more information?
For the latest information on applications, funding and regulation, please visit the Office of Cannabis Management website (cannabis.ny.gov). Authorities also host face-to-face workshops and webins to provide the latest updates on the industry.
