New York’s ongoing struggle to launch cannabis companies
Green Market Report’s Post
More Relevant Posts
-
Five years after the first recreational cannabis dispensaries opened their doors, none of the state’s largest retail companies are classified as equity businesses. Massachusetts has touted itself as the first state with social equity regulations to make the marketplace more inclusive. One of these policies is an anti-monopoly law, limiting cannabis businesses to three recreational and three medical dispensary licenses for retail businesses, not including other types of licenses such as cultivation or product manufacturing. A Business Journal review of state records shows there are seven companies that have already maxed out the available retail licenses. None are part of either the social equity or economic empowerment programs, two license types given to people from marginalized groups or by people harmed by the war on drugs. Read my report here: https://lnkd.in/eN8dNwu2 Boston Business Journal #cannabisnews #boston #massachusetts #mapoli
Mass. equity efforts in the cannabis industry fall short - Boston Business Journal
bizjournals.com
To view or add a comment, sign in
-
Cannabis Executive•Thought Leader•Advocate•Athlete Ambassador Athletes For Care Public Speaker Author Board Member Center for Community Alternatives Columbia Green Foundation Board Member
While I appreciate the change in the regulations for marketing we are still building in artificial protections with these proximity maps. That also leads me to ask a very serious question, during the meeting there was a resolution on how to handle community/municipal input on retail and consumption. It’s alarming to me and others that the state requires municipal approval but didn’t have a policy on how to handle the responses from the municipality. Over and over I have been saying that the OCM cannot be the market maker that falls on the consumer and these municipities are at the heart of consumer protections by adopting local rules that supported the OCM. Good for Gilbert Jenkins as well for setting the record straight. The issue is it’s taking too long to get to thr 60 day mark. Again at this rate it will be another year before we can get through the November queue. Finally why didn’t the policy director give a time frame for when we would see the November queue cleared? These meetings are nothing more than political satire at this point. There no way these should last 3 hours. There’s also never been a meeting that kicks off on time. I have an idea each section should have time to highlight their report and it should be posted online for public review. Also if board member have specific questions they should be given to the OCM team ahead of the meeting so they can have the answers available to them during the meeting. #ocm #policychanges #cannabisrules #distractions
New York’s cannabis regulators approved more than 100 new business licenses and removed some restrictions on marketing during an at-times tense Wednesday morning meeting, which was not attended by the Office of Cannabis Management’s new interim leader. --New for NY Cannabis Insider subscribers by Sean Teehan
Another tense Cannabis Control Board meeting as regulators approve more than 100 new licenses
newyorkupstate.com
To view or add a comment, sign in
-
4 Facts Before Starting In The Cannabis Business
4 Facts Before Starting In The Cannabis Business
https://dclifemagazine.com
To view or add a comment, sign in
-
⛔ Are you a BC Cannabis Retail Store (CRS) or Producer Retail Store (PRS)? We released a blog discussing the significance of building relationships as a proactive approach to identifying and mitigating risks, which is crucial for maintaining stable and productive business relationships. It is also important to stay on top of evolving regulations and compliance requirements, and having great relationships can make it easier… and guess what happened… ⛔ An update for British Columbia! ⛔ What’s changing? Federally licensed cannabis producers (federal licence holders) can now promote their cannabis by providing cannabis store licensees product samples for a nominal fee. Read the bulletin here: https://lnkd.in/g87niSzv Do you plan to start including samples in your sales strategy? Comment any questions you may have! We would love to help anyone considering or curious about product samples. #CannabisRetail #CannabisIndustry #Vetrina
Bulletin 23-08: Cannabis industry sampling
www2.gov.bc.ca
To view or add a comment, sign in
-
Interesting POV from Shanken news this morning on dry-jan and cannabis sales in NY: "Dry January Seen As Fueling Cannabis Sales: Leading cannabis companies like Curaleaf, Green Thumb Industries, Verano, Tilray, and Canopy Growth are expected to see a boost in the first quarter of this year, Bloomberg reported, as younger consumers participating in the Dry January trend increasingly substitute with cannabis. The above-mentioned marketers are likely to see about 6% sales growth on average in the first quarter, according to Bloomberg's analysis. It's been found that around a third of consumers under 25 who are participating in Dry January use cannabis during their month of alcohol abstinence. Meanwhile, only about 50% of 18 to 25-year-olds reported drinking alcohol over the past month, Bloomberg noted, down by 10 percentage points from 2015. That has translated into bigger sales increases for cannabis during the month of January in some states, such as Oregon and Colorado. News Briefs: •New York governor Kathy Hochul recently called the state’s adult-use cannabis rollout a disaster, blaming the law passed by her predecessor Andrew Cuomo for the lack of licensed retailers and the proliferation of black market shops. Responding to questions from the Buffalo News, Hochul said that the law, as passed, lacked meaningful enforcement against illegal shops and was a failure from the beginning. Beyond slamming the legal-use rollout, Hochul pledged to continue to find ways to tackle the illicit retail market, including by trying to speed up the licensing process. New York state had an estimated $150 million in cannabis retail sales last year, nearly 10 times less than Missouri, which also began adult-use sales in 2023."
To view or add a comment, sign in
-
Film Director of Weed Wars | Free Market Cannabis Advocate | Co-Founder and President of The Maryland Healthy Alternatives Association | Owner of Embrace CBD Wellness Centers | Owner at Root City Kava Bar & Lounge
Our battle for fairness and equity in Maryland's hemp and cannabis industry is truly a grassroots movement of real small and minority owned businesses. In our state, the true professionals in the hemp industry have been advocating for the last 4 years to establish a common sense regulatory framework for hemp products. Our bipartisan bill HB1204 included establishing a testing standard, packaging and labeling requirements, age gating, licensing, tracking, and enforcement. This bill would have both protected public safety as well as the small business community's ability to participate in the free market. That bill died on day one and our industry was destroyed to the benefit of large cannabis operators with a competing economic interest. Lawful hemp businesses were forced to close down for 6 months and then try to obtain a cannabis license to continue to sell our lawful products that we had been selling for nearly 5 years. We were told by the state that our "off ramp" was the social equity lottery and the limited license scheme. This prompted us to do a deeper dive into the licensing system, the social equity criteria, the overburdensome regs, and who benefits from this type of system... our findings showed an unjust monopoly in violation of The Maryland Declaration Of Rights. None of this, including the lawsuit we filed against the state had to happen. We have always been reasonable and offered ourselves as an industry to be a resource to the state. The state had every opportunity to create a truly equitable and open market. They heard endless public comments against this plan and still chose this system. They refused to work with us, now the entire licensing scheme is under judicial review exposing the illusion of social equity and the state's desire to monopolize the industry to maximize tax revenues. This plant belongs to the people. We have garnered a ton of support for our efforts from current hemp industry participants and countless would-be legal cannabis entrepreneurs in the legacy market as well as those who would be a bona fide social equity applicant but don't meet the arbitrary criteria for a license who will be locked out of this industry. The only pushback we are getting is coming from those who benefit from limited license markets who are mostly lawyers and consultants who bank off of those who spend hundreds of thousands to manipulate the system in their favor to consolidate the industry into the hands of a few. Legalization is a word I use very loosely, because I believe that cannabis has never been truly legalized. If it had been there would not be these arbitrary limits on licenses, limits on home grow, limits on possession, and restrictions on product types and potency. Cannabis is not legalized in MD, it is simply being monetized in a restricted market with the state as a willing participant and beneficiary of an unjust monopoly. Our fight is far from over. Support our cause at https://lnkd.in/e55Yq6kX
To view or add a comment, sign in
-
"The legal cannabis market in the U.S. alone is expected to grow to more than $33 billion this year, which is evidence of its explosive growth in recent years. The cannabis market, which includes illegal market sales, is predicted to be closer to a whopping $100 billion. That’s a sizable consumer base, with many consumers still buying their cannabis on the illegal market due to cost, access and convenience." Read More: https://lnkd.in/eENR_MKb Learn about Geomat: geomat.com/cannabis
The Untapped Opportunity: Igniting Growth in Cannabis Retail
https://cannatechtoday.com
To view or add a comment, sign in