'We were let down tremendously:' Social equity applicants for marijuana licenses have dreams crushed by legal red tape
CHICAGO (CBS) -- Wednesday marked 4/20 – the unofficial day of celebration for cannabis users – and since recreational sales were legalized in 2020, sales have soared well into the millions month after month – with total revenues in the billions.
Earlier Wednesday, there were lines outside the door at a local dispensary.
Yet, there is not a single minority-owned pot shop – at least not yet. Despite promises of equity, legal red tape has crushed some businesses before they've even started.
"They sold social equity applicants a dream," said Victoria Williams of ACC Illinois.
Williams bought into that dream. She was awarded not one, but two social equity licenses from the state as a third-party cannabis transporter and to open her own dispensary.
It was an opportunity to cash in on the industry that has raked in more than $2 billion for the state since 2020, and more than $130 million last month alone.
CBS 2's Charlie De Mar sat down with an optimistic Williams last August. But her outlook has since clouded – since she hasn't made a dollar.
"We were let down tremendously," Williams said. "No one is successful in this industry as a social equity applicant."
Lawsuits have prevented the state from handing out the new licenses, which continue to keep social equity applicants on the outside.
"We paid $10,000 for a license, and I paid min toe to become be first to market," Williams said, "and to not be able to make not $1 doing that is disheartening."
Williams said she is all ready to go with her business – but is not being allowed to go ahead and operate legally.
And on top of it all, the State of Illinois just asked Williams for $10,000 more to renew the license she's never used.
Williams, along with business partner Berwyn Thompkins, held a 4/20 seminar Wednesday. Among the lessons, Thompkins said, "We are trying to help people create businesses that create a revenue."
More specifically, they are trying to help people create businesses in the cannabis industry that don't require a license.
"We know, at this point, the license – it has no value at this point," Thompkins said.
Gov. JB Pritzker's office released a statement saying that they are committed to helping applications of diverse backgrounds:
"From the very beginning, the Pritzker administration has prioritized equity and accessibility in establishing the legal cannabis industry. While the issuance of new licenses currently remains on hold due to a court order, the administration remains committed to helping applicants from diverse backgrounds enter and remain part of the state's cannabis industry and we are hopeful the courts will allow us to move forward with issuing licenses soon."