New York to issue 1,500 new cannabis licenses in ‘largest expansion’ of market

Must read

- Advertisement -

The New York State Cannabis Control Board will issue nearly 1,500 cannabis licenses when the application window opens on October 4.

The New York State Cannabis Control Board (CCB) recently voted to finalize the state’s proposed regulations.Office of Cannabis Management (OCM) for the state’s adult-use cannabis market.

Individuals and businesses will be able to apply for cultivator, processor, distributor, micro-business and retail licenses starting October 4, 2023, marking the largest expansion of New York’s cannabis market since the legalization of adult use in 2021.

According to Green Market ReportChris Alexander, executive director of theOffice of Cannabis Management of New York, said, “We’re going to be issuing well over a thousand, closer to 1,500 licenses, all the way through the supply chain.”

In a statement on the day of the vote, Mr. Alexander added: “Today marks the most significant expansion of New York’s legal cannabis market since legalization, and we have taken a big step toward our goal of enabling for New Yorkers to have access to safer, regulated cannabis across the state. »

“We are extremely proud to build the most equitable and competitive cannabis industry in the country, one that prioritizes those most impacted by prohibition and provides all New Yorkers, not just large companies, a real opportunity to compete and prosper. »

“The regulations finalized today are the result of robust engagement with stakeholders across the state who submitted thousands of comments. This final package truly represents the values ​​of fairness and competition that we believe are at the heart of this market. »

“I want to especially thank Governor Hochul for his leadership, the Board of Trustees for their collaboration, the Legislature for their vision and our partners for their commitment to this mission. »

The CCB also confirmed that from October 4, currently operating adult conditional cultivators (AUCC) and conditional processors (AUCP) will also be able to apply for full, non-conditional licenses.

Social and economic equity applicants will receive a 50% reduction in application or licensing fees and will be eligible for application assistance.

Tremaine Wright, Chair of the New York State Cannabis Control Board, also said, “Today’s introduction of our cannabis licensing program marks a turning point in the state’s commitment. of New York in support of entrepreneurship and the promotion of a truly diverse cannabis market. »

“Starting in October, future business owners will be able to follow the process of applying for various licenses with ease through the platform New York Business Express (NYBE). »

“Our commitment to social and economic equity will continue to take center stage, ensuring that individuals and communities from all backgrounds have a fair chance to succeed in this booming industry. With these comprehensive additions, New York cements its reputation as a forward-thinking leader in the cannabis world. »

- Advertisement -

More articles

Leave a Reply

Latest article