New marijuana resource hub in New York will help the industry flourish

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New York City is ensuring it takes a leading role in the development of the cannabis industry

This week many New York State regulators are preparing to accept applications for the first adult-use retailer licenses. Simultaneously, a new program was announced by the Mayor of New York City earlier this week that seeks to promote equity in the cannabis industry by supporting entrepreneurs who were severely impacted by the war on drugs.

All those seeking to hold conditional adult-use retail licenses who have been directly harmed by the criminalization of cannabis will have a front-row seat. An online application portal for justice-involved individuals is expected to open tomorrow.

Big Apple Mayor Eric Adams spoke during a press conference at Medgar Evers College to announce the launch of Cannabis NYC, established under the city’s Department of Small Business Services (SBS). The intent of this new project is to help ignite the economy as well as initially support potential dispensary operators in completing the license application process.

The press release stated that the measure also promises to provide “support beyond licensing” by connecting “aspiring cannabis entrepreneurs with no-cost services, along with technical assistance, to support successful businesses.” The mayor seeks to help New Yorkers interested in a license with information so they can understand how to successfully open and manage a business.

Businesses like these end up contributing capital to the state’s economy, so giving them a hand seems like a logical thing for the mayor to do. “It’s about creating good jobs, successful small businesses and ultimately delivering equity to communities hurt by the War on Drugs,” he added. The initiative seeks to guide the industry in the direction of equity as it evolves while providing technical assistance and other services to license applicants.