Deadline expires in New York for first round of dispensary licenses

The first adult-use cannabis licenses in New York closed on Monday, and hundreds of applicants are now awaiting feedback from the state.

Monday’s deadline came a month after the State Office for Cannabis Management officially opened the application portal on August 25.

Since then, the agency has been inundated with applications from individuals hoping to make the first leap into the Empire State’s legal marijuana market.

Earlier this week, The New York Times reported that about “500 applications had been submitted” as of Sunday, adding that hundreds of “ineligible individuals were turned away, but so were dozens more who qualified and needed help navigating the online portal.” of the state needed. ”

The state will issue 150 licenses in the first round this fall, and these were intended exclusively for applicants who have previously been convicted of a cannabis-related offense (or a family member of someone who has).

Dubbed the “Seeding Opportunity Initiative,” the policy goes further than most of the so-called “social equity” provisions in other states’ marijuana laws.

“New York State is making history and launching a unique approach to the cannabis industry that takes a major step forward in righting the wrongs of the past,” New York Gov. Kathy Hochul said in announcing the policy’s reinstatement March. “The regulations presented today by the Cannabis Control Board will prioritize local farmers and entrepreneurs and create jobs and opportunities for communities that have been left out and left behind. I am proud that New York will be a national model for the safe, just and inclusive industry we are now building.”

New York City has taken similar steps to improve opportunities in the burgeoning cannabis industry for individuals adversely affected by previous marijuana laws.

City Mayor Eric Adams last month announced “a unique initiative and suite of services to support the equitable growth of the cannabis industry in New York City.”

The initiative, known as Cannabis NYC, will “provide technical assistance to cannabis license applicants and other business services to take entrepreneurs beyond licensing to thrive” while “enabling cannabis entrepreneurs and their workers to advance the industry.” support.

It will also work with “industry stakeholders to create good jobs, thriving small businesses and sustainable economic opportunities while addressing the harms of cannabis prohibition.” Adams’ office said that the “first phase of Cannabis NYC will focus on ensuring that justice-affected New Yorkers are able to apply for and secure retail licenses from the state.”

“Today we are lighting up our economy and launching Cannabis NYC – a unique initiative to support the equitable growth of the cannabis industry in New York City,” Adams said in a press release last month. “The regulated cannabis industry for adult use is a golden opportunity for our underserved communities who have faced disproportionate rates of drug-related incarceration for too long to enter the industry on the ground floor. Cannabis NYC will sow the seeds of tomorrow’s economy by helping New Yorkers apply for licenses and understand how to start a business and run it successfully, while bringing equity to our economy by empowering those who are advocate for justice, and those with cannabis provide persuasion a chance to succeed. It’s about creating good jobs, making small businesses thrive and ultimately bringing justice to communities harmed by the ‘War on Drugs’.”

The first state-regulated recreational cannabis dispensaries in New York are not expected to open until later this year (at the earliest).

But countless small business owners out there haven’t waited to get on the “kush high.” New York City, in particular, is teeming with illegal cannabis stores, prompting state regulators to crack down on some.