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Social Equity

All articles tagged with #social equity

state-news7 months ago

Minnesota Launches Cannabis and Hemp Licensing Amid Expanded Legal Access

Minnesota held its first lotteries for recreational cannabis business licenses nearly two years after legalization, marking a significant step in establishing a legal marijuana market. The lotteries included social equity applicants and general applicants, with winners needing to pass further checks before fully licensing and opening their businesses. The process aims to promote an equitable and safe cannabis industry, with tribes and applicants working towards finalizing licenses and opening stores.

via Star Tribune|
#cannabis#licenses#lotteries
politics1 year ago

Elizabeth Warren Warns of Big Players Entering Marijuana Market

At an anti-monopoly cannabis event, Sen. Elizabeth Warren emphasized the need to legalize marijuana in a way that prevents domination by big businesses like Amazon and Big Tobacco, and addresses the century of racist policies under prohibition. She stressed the importance of prioritizing small businesses and communities most harmed by the war on drugs to ensure fairness and competition in the emerging cannabis industry.

via Marijuana Moment|
#anti-monopoly#big-business#elizabeth-warren
business2 years ago

"Record-Breaking Month: Maryland's Recreational Marijuana Sales Soar to $87.4 Million"

Maryland saw a successful first month of recreational cannabis sales, with users spending over $87 million on cannabis products. The state outperformed other states like New Jersey and New Mexico in terms of sales. The launch of the adult-use market in Maryland went smoothly, thanks to a well-established regulatory structure. Flower products accounted for the majority of sales, followed by concentrates and edibles. Industry leaders credit the state's low tax rate and regulated suppliers for keeping prices competitive with the black market. However, Maryland still faces challenges in achieving social justice and equity goals, particularly in increasing diversity in the industry. Efforts to prioritize minority business owners have fallen short, and the state aims to address this in the next round of recreational licenses.

via The Washington Post|
#business#cannabis-sales#maryland
business2 years ago

"Major Investments Pour into New York's Cannabis Social Equity Fund, Reaching $200 Million"

Governor Kathy Hochul of New York has announced that Chicago Atlantic Admin, LLC will invest up to $150 million in the New York State Cannabis Social Equity Investment Fund, bringing the total investment in the fund to $200 million. The fund aims to support individuals affected by the unequal enforcement of cannabis prohibition by providing turnkey dispensaries to justice-impacted individuals who have received Conditional Adult Use Cannabis Dispensary licenses. The investment will help these licensees start their businesses and repay set-up costs associated with the fund program. Chicago Atlantic, with its extensive experience in the cannabis industry, will contribute to the development of New York's cannabis industry and support social equity initiatives.

via ny.gov|
#business#cannabis#chicago-atlantic
cannabis2 years ago

Nevada Grants Conditional Licenses for First Cannabis Consumption Lounges

Nevada regulators have granted conditional licenses to three businesses to open marijuana consumption lounges for adults, out of the 40 prospective licenses granted last year. The businesses that received the licenses are Planet 13, The Venue at Sol Cannabis, and Thrive Cannabis Marketplace. The state has also adopted revised regulations to reduce barriers of entry for all potential licensees, including social equity applicants. The lounges will be cannabis-only, with no alcohol, tobacco, or nicotine products sold, and consumption must be hidden from public view.

via Marijuana Moment|
#cannabis#cannabis-compliance-board#marijuana-consumption-lounges
politics2 years ago

"Economic Justice Overlooked in New Hampshire's Cannabis Legalization Debate"

As New Hampshire considers legalizing cannabis, there are concerns that economic justice and social equity provisions are being overlooked. Unlike neighboring states Vermont and Massachusetts, New Hampshire's proposed cannabis retail sales model lacks explicit equity provisions. Advocates argue that legalization should prioritize those most impacted by the War on Drugs and that equity provisions are necessary to remedy the harm done to communities over decades. While New Hampshire decriminalized possession of small amounts of cannabis and allows qualifying people to annul past criminal records, advocates for legalization say those are small drops in the bucket.

via New Hampshire Bulletin|
#cannabis-legalization#economic-justice#new-hampshire
politics2 years ago

Minnesota on the Verge of Legalizing Recreational Marijuana and Sports Betting.

The Minnesota House of Representatives has approved a marijuana legalization bill, sending it to the Senate for a final vote before it reaches the governor's desk. The legislation allows adults aged 21 and above to purchase and possess up to two ounces of cannabis and cultivate up to eight plants at home. The bill also promotes social equity by ensuring diverse licensing and expunging prior marijuana records. The Senate is expected to take up the measure soon, and the governor has pledged to sign it.

via Marijuana Moment|
#cannabis#expungement#marijuana-legalization
business2 years ago

NYC's Slow Legal Weed Rollout Sparks Gray Market Cannabis Boom.

The slow rollout of legal weed in the Tri-State area has led to the proliferation of "gray" market cannabis shops, with an estimated 1,400 illicit businesses in New York City alone. While state officials are trying to right the wrongs of the "War on Drugs" with social equity components in their recreational marijuana programs, anti-marijuana activists are trying to slow the fast pace of legal cannabis adoption. The national cannabis market is estimated to reach $71 billion in sales by 2030, with the New York state market alone potentially making up 10% of that.

via CNBC|
#business#cannabis-market#gray-market
marijuana-legalization2 years ago

Maryland Governor Signs Bills for Cannabis Reform, Abortion Protection, and Health Care Access.

Maryland Governor Wes Moore has signed a bill to regulate marijuana sales, setting the stage for statewide legalization. The law will tax cannabis at nine percent, with medical marijuana sales exempt from the tax. Thirty-five percent of marijuana tax revenue will go toward a community reinvestment fund, with counties, a Cannabis Public Health Fund, and a Cannabis Business Assistance Fund each getting another five percent. The legislation will end sales of delta-8 hemp products on the broad market, instead requiring that any intoxicating cannabis products be done through licensed marijuana businesses. Past convictions for conduct made legal under the proposed law will be automatically expunged, and people currently serving time for such offenses will be eligible for resentencing.

via Marijuana Moment|
#cannabis-regulation#expungement#marijuana-legalization
politics2 years ago

Minnesota House to Vote on Legalizing Recreational Marijuana.

The Minnesota Legislature is in the final stages of debating bills that would legalize and regulate recreational marijuana in the state. The House has already passed its version of the bill, while the Senate is set to vote on its own version on Friday. The bill has a focus on social equity, with an emphasis on ensuring that those who have been most harmed by previous marijuana laws benefit most from the new legal cannabis market. However, some Republicans have criticized the bill's licensing requirements and lack of focus on addiction problems and public safety risks. If passed, Minnesota would become the 22nd state to legalize recreational marijuana.

via The Associated Press|
#addiction-problems#marijuana-legalization#minnesota-legislature
politics2 years ago

Maryland Legalizes Cannabis Market with New Rules.

Maryland lawmakers have passed a bill legalizing the sale of recreational cannabis in the state, with a 9% sales tax and the majority of profits going to communities most affected by the war on drugs. The bill allows medical cannabis businesses to initially set up the market, with the legal sale of recreational cannabis expected to begin this summer. The legislation also includes provisions for social equity applicants and a new fund for local organizations serving communities disproportionately affected by the war on drugs. The state is estimated to bring in $13 million in fiscal 2023 and $67 million by fiscal 2027.

via The Washington Post|
#cannabis#legalization#maryland
business2 years ago

NY's First Woman-Owned Cannabis Dispensary to Open in Queens

New York state's first woman-owned, adult-use cannabis dispensary, Good Grades, is set to open in Queens on March 30. The dispensary is operated by entrepreneur Extasy James and her cousin, Michael James Jr., and is supported by the New York State Social Equity Cannabis Investment Fund. Good Grades will operate as a pop-up dispensary, providing training opportunities for employees and generating capital for their business. The opening of Good Grades helps advance the state's goals of equity in cannabis licensing that prioritizes providing licenses to justice-involved individuals.

via QNS|
#business#cannabis#pop-up-program