Public Private Fund for Equity in Cannabis

What is happening? The Governor of New York is creating a $200 million public-private fund to support social equity in the state’s upcoming marijuana market. Including “goal of issuing at least 50 percent of cannabis business licenses to social equity applicants, including people from communities disproportionately impacted by criminalization, distressed farmers and women- and veterans-owned companies. Hochul says the newly announced fund will help New York achieve that goal.”

Why is this important? Much talk about the big companies keeping the little companies out of marijuana markets in other states because of high licensing fees and banking challenges.

How will this be important? Overcoming inequities in participants is a talking point for every industry.

Marijuana Moment | New York Governor Announces $200 Million Marijuana Fund To Promote Industry Equity