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State authorities NY they will give up 1,445 new marijuana business licenses in the coming weeks, in an attempt to boost the legal cannabis industry, local media outlet
State authorities NY they will give up 1,445 new marijuana business licenses in the coming weeks, in an attempt to boost the legal cannabis industry, local media outlet Gothamist reported Tuesday.
Licenses will be issued to sellers, but also to producers or micro-enterprises who had problems entering the market due to numerous bureaucratic and legal problems that followed legalization in 2021 recreational use of marijuana in the state.
New York’s first legal recreational marijuana store opened in late 2022, and only 40 businesses have remained open statewide since then, according to the Office of Cannabis Management.
Government authorities hoped to open some 150 enterprises by the end of this year.
Many legal cannabis dispensaries cannot compete with the illegal marijuana market, which is sometimes almost indistinguishable from licensed operations.
With the new licenses, authorities want to give priority to businesses that already rent or own premises. They will begin to be issued in January or February.
In November, The New York Times reported a surplus cannabis stock of more than 270,000 kilograms languishing in warehouses due to delays in opening legal stores, many mired in litigation or bureaucracy.
EFE
Source: Aristegui Noticias
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