The Illinois Department of Financial and Professional Regulation (IDFPR) has completed its first round of social equity licenses. 182 social equity licenses were granted in July and early August, in addition to the three conditional adult-use dispensing organization licenses issued for the 2021 license lottery winners. A total of 185 conditional adult-use cannabis retail licenses were granted.
“Illinois is a pioneer, leading the way in cannabis legalization that is equity-centered. With all 185 conditional licenses now in the hands of social equity applicants, we have reached a tremendous milestone. Now, we look forward to getting these businesses up and running, creating jobs in the communities most harmed by the failed drug war, and cementing ownership in Illinois’ cannabis industry as the most diverse in the nation,” said Gov. JB Pritzker (D) in a press release.
The state of Illinois has announced the winners of its medical cannabis dispensary licenses. Forty-one percent of the businesses selected were Black-owned, 7% white-owned, 4% were Latino-owned, and 38% did not disclose their racial make-up.
The awardees now have 180 days to find a physical location and complete the remainder of the requirements for an Adult Use Dispensing Organization license. If unable to find a physical location, licensees will be able to request an additional 180 days.
The Department of Financial and Professional Regulation has released a full list of licensees for cannabis businesses in Illinois. The Cannabis Regulation and Tax Act also authorize the Department to issue additional licenses in future years – applications for those licensing rounds are not yet available.
