New York to Issue 1,500 New Cannabis Licenses in “Largest Market Expansion”

New York’s Cannabis Control Board will issue nearly 1,500 new cannabis licenses starting tomorrow. The move will mark the largest licensing expansion since legalization in 2021. The finalized regulations prioritize equity and competition, focusing on those most impacted by prohibition and providing substantial benefits to candidates under the social and economic equity program.

The Cannabis Control Board of New York will issue close to 1,500 cannabis licenses as soon as the application window opens on October 4th.

The Cannabis Control Board of New York State (CCB) recently voted to finalize the regulations proposed by the Office of Cannabis Management (OCM) for the state’s adult-use cannabis market.

Starting October 4, 2023, individuals and businesses can apply for grower, processor, distributor, micro-business, and retail licenses in New York. This marks the most significant expansion of the New York cannabis market since the legalization of adult-use in 2021.

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Green Market Insights

According to the Green Market Report, Chris Alexander, Executive Director of the New York Office of Cannabis Management, stated: “We will be issuing well over a thousand, closer to 1,500 licenses, throughout the supply chain.”

On the day of the vote, Mr. Alexander added, “Today marks the most substantial expansion of the New York legal cannabis market since legalization, and we’ve taken a significant step towards our goal of allowing New Yorkers to access safer, regulated cannabis across the state.”

“We are extremely proud to build the nation’s most equitable and competitive cannabis industry—an industry prioritizing those most impacted by prohibition and offering all in New York, not just large corporations, a genuine opportunity to compete and thrive.”

“The regulations finalized today result from strong engagement with stakeholders statewide who provided thousands of feedback. This final package genuinely represents the equity and competitive values we believe are at the heart of the New York market.”

“I especially want to thank Governor Hochul for her leadership, the board for its collaboration, the New York legislature for its vision, and our partners for their dedication to this mission.”

Application Details for New York Licenses

The CCB also confirmed that as of October 4, currently operating adult-use conditional growers (AUCC) and conditional processors (AUCP) will be eligible to apply for full, non-conditional licenses in New York.

Candidates under the social and economic equity program will receive a 50% reduction in application or license fees and can avail of application assistance.

New York Commits to Diversity

Tremaine Wright, chairperson of New York State’s Cannabis Control Committee, also remarked: “Today’s presentation of our cannabis licensing program signifies a turning point in New York State’s commitment to entrepreneurship and fostering a truly diverse cannabis market.”

“From October, future business owners can easily navigate the application process for various licenses via the New York Business Express (NYBE) platform.”

“Our commitment to social and economic equity in New York will continue to take center stage, ensuring individuals and communities from all backgrounds have an equal chance to succeed in this booming sector. With these comprehensive additions, New York cements its reputation as a forward-thinking leader in the cannabis world.”

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(Featured image by Thomas Habr via Unsplash)

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