New York City Mayor Eric Adams (D) announced the launch of Cannabis NYC, a new program that will provide services and licensing assistance to the city’s cannabis social equity applicants.
In a recent article by Ganjapreneur, Cannabis NYC will provide support to business owners and entrepreneurs from communities that have been disproportionately impacted by the war on drugs. These applicants will be given priority for cannabis licenses, which will be awarded through a competitive process.
In addition to licensing assistance, Cannabis NYC will offer mentorship, training, and networking opportunities. The program will also help businesses connect with investors and partners. This is an important step forward for the cannabis industry in New York City, which is expected to be worth up to $1.3 billion in annual revenue by the end of next year.
Prospective retailers who are eligible as “justice-involved people” will be in the first phase per an article in Marijuana Moment. Applications will be accepted until September 26th.
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