NEW YORK – New York State released its first 36 commercial cannabis licenses on Monday, marking an important step in creating a legal and profitable market for recreational marijuana.
These permits granted by the Cannabis Control Authority were the first of 175 the state plans to issue, including several in the first round reserved for applicants who have previous convictions for felonies related to simple marijuana possession. New York State legalized the recreational use of marijuana in March 2021.
Eight nonprofit organizations were among the holders of the 36 permits granted on Monday. Some of these businesses, selected from more than 900 applicants, should open by the end of the year.
New York State has also released a $200 million public-private fund to help “social equity” candidates repair the ravages of the war on drugs, particularly in racialized communities.
“We have ensured that the first sales will be made in companies run by those affected by the unjust application of the cannabis ban,” said Tremaine Wright, who chairs the Régie.
A court ruling earlier this month forced the Board to delay approving assets in parts of New York State due to a dispute over licensing criteria. However, officials said they would issue permits elsewhere as soon as possible.
Now that the first permits were issued, it remained to be seen whether authorities would step up their efforts to address dozens of unlicensed dispensaries that were opened last year by vendors who ignored Regie’s requests.
