New York Governor Hu Chu announced yesterday that he will open a new batch of hundreds of marijuana cultivation and sales licenses to expand the legal duration of marijuana. At the same time, further ironclad measures will be taken to crack down on illegal marijuana, including inviting state departments such as the Labor Department to intervene in law enforcement and protect the rights and interests of employees of marijuana merchants.
This new license application is the largest expansion plan of the legal cannabis market in New York since the legalization of marijuana. The state capital will open hundreds of new licenses to individuals and businesses interested in the legal cultivation, processing, distribution, and retail of marijuana.
The application has been open since yesterday and will last for two months. The state marijuana management office and marijuana control committee will be responsible for reviewing the application, and the license will be issued starting in early 2024.
During the application opening stage, marijuana enterprises that currently operate adult conditional cultivation and processing can also apply to convert their licenses into complete unconditional licenses.
For entrepreneurs who have been waiting for the opportunity to join this important market, this is an important moment.
We are building the world's largest and fairest cannabis market, and opening up new application windows means expanding opportunities, "said Chris Alexander, Executive Director of the New York State Cannabis Management Office (OCM).
The Marijuana Management and Taxation Act (MRTA) establishes licensing priority for applicants for Social and Economic Equity (SEE), defined as "communities disproportionately affected by past ban enforcement (CDI), businesses owned by ethnic minorities and women, struggling farmers, and disabled veterans".
All SEE applicants will receive priority in license review, a 50% reduction in application and licensing fees, and are eligible for application support and technical training through the Cannabis Center and Incubator Program, which will be launched later this autumn.
So far, the state has only issued Conditional Adult Use Retail Pharmacy Licenses (CAURD) to "judicial related individuals" who are entrepreneurs with a criminal record related to marijuana.
In addition to opening up general license applications, the currently operating "adult conditional cultivators and processors" will also be able to apply for complete and unconditional licenses.
New York State is steadfast in its efforts to establish a fair, competitive, and diverse cannabis industry.
Today, the day our application window opens marks a significant step forward in realizing our vision of a fair and convenient New York cannabis market. Under the leadership of the governor, New York State has introduced strong rules and protective measures to ensure that all licensed marijuana companies have real competitive opportunities
Tremaine Wright, Chairman of the New York State Cannabis Regulatory Commission, said.