Mayor Eric Adams announces launch of Cannabis NYC, designed to make industry equitable for all
NEW YORK -- The marijuana industry continues to grow in New York state. Within days, the first round of retail licenses will be up for grabs. And, in this first round, the city wants to make sure underserved Black and brown communities get first dibs.
"For too long, these communities have faced high rates of drug-related incarcerations and they have been denied opportunities to build wealth. That's a terrible combination and today we're dismantling that combination," Mayor Eric Adams said.
Inside Medgar Evers College, the first CUNY institution to offer the degree of a minor in Cannabis Education, Adams announced the launch of Cannabis NYC, a program he says is designed to pre-invest in the those who were justice involved, CBS2's Vanessa Murdock reported Monday.
"It's about setting the foundation of equity," Adams said.
"Non-traditional players are usually left out and that is what we're trying to change here. We're talking about billions of dollars and countless, countless jobs," Brooklyn Borough President Antonio Reynoso said.
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The program is the brainchild Kevin Kim, commissioner of the city's Department of Small Business Services.
"The city's first ever services, all at no cost and in multiple languages, to help aspiring justice-involved entrepreneurs apply for the state's first retail license," Kim said. "If you or a close family member had a marijuana arrest or conviction before March 31, 2021, and you've been an owner or a partial owner of a business for two years or more, you may be eligible to apply for this first round of licenses."
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Jeffrey Garcia, co-founder of Latino Cannabis Association, said members are excited to get assistance from the city.
"This is about not just getting people licenses, but really helping them build businesses, right? And generational wealth," Garcia said.
The plan is to turn cannabis into an opportunity for economic prosperity.
Commissioner Kim said a main goal is to help New Yorkers involved in the unregulated cannabis industry transition into the licensed market.