NEW YORK (1010 WINS) — New York plans to double the number of cannabis dispensary licenses from 150 to 300, the Office of Cannabis Management announced on Thursday.
Like the first batch, the new licenses will be available only to people with former cannabis convictions, their family members or non-profits that support formerly incarcerated people.
“With this expansion, more entrepreneurs will be able to participate in the first wave of this industry, allowing them to capitalize on the growing demand for cannabis products,” said Cannabis Control Board Chair Tremaine Wright. “As more businesses enter this market, the innovation and competition will increase, leading to better quality experiences for consumers.”
The state received about 900 applications since the process started in late August, according to the OCM.
The additional licenses will be awarded from the existing pool of qualifying applicants.
The Cannabis Control Board has issued 66 provisional licenses so far. Four dispensaries have opened across the state, three of which are in Manhattan. The first legal sales were made at a store in the East Village just before the end of 2022.
The board is awarding licenses based on regions in an attempt to establish equal access to legal weed, but about 40% of licenses are being held up by a court order. Licenses in the Brooklyn, Finger Lakes, Central New York, Western New York and Mid-Hudson regions are frozen due to a lawsuit by an out-of-state cannabis business that had its application rejected on the grounds that it didn’t have strong ties to New York.
Related
Related
Related
