Since adult-use recreational weed became legal in the state of New York, four legal dispensaries have opened – two in Manhattan, one in Queens, and one in Brooklyn. These dispensaries are regulated by the New York State Cannabis Control Board, which oversees the licensing and regulation of all aspects of the cannabis industry.
Previously, three Staten Island businesses were awarded CAURD licenses, though no legal recreational dispensaries have opened on the borough yet. This is likely due to the fact that Staten Island has historically been more conservative than the other boroughs, and there may be resistance from local officials and residents to the opening of dispensaries.
September 6, 2022 – “Since June 1, the New York's Cannabis Control Board has issued 162 recreational cultivation licenses,” Bloomberg Tax reports. This is a positive sign for the growth of the industry in New York, as it shows that there is significant interest from entrepreneurs and investors in the cultivation of cannabis for recreational use.
The number of licenses for adult-use retail dispensaries was initially capped at 10 per region, with a total of 20 regions in the state. However, this cap has since been lifted, and there is no longer a limit on the number of dispensaries that can be licensed in each region.
The New York State Marijuana regulation and Taxation Act of 2021 outlines the regulation for the cultivation, sale, and use of recreational cannabis in the state. The law includes provisions for social equity, such as the allocation of 50% of licenses to individuals from communities disproportionately affected by the war on drugs.
Hoffman and NY Cannabis Insider have partnered to bring those sessions to life, offering a comprehensive look at the industry and what to expect in the coming years. These sessions cover everything from regulatory issues to business strategies, and are a valuable resource for anyone looking to get involved in the cannabis industry in New York.
A coalition that includes some of New York's medical cannabis businesses has called for the state to prioritize equity in the licensing of recreational dispensaries. The coalition argues that existing medical cannabis companies should be given priority in the licensing process, as they have already invested significant time and resources into the industry.
The rollout of legal marijuana in New York has been a slow and laborious process. The corner stores aren't waiting, however, and many have begun to sell CBD products, which are legal under federal law. These products are non-psychoactive and do not contain THC, but they are still derived from the cannabis plant and have many of the same potential health benefits.
Only those businesses that have been granted a license to recreational sell cannabis products are allowed to do so in New York City. So far, only four dispensaries have been granted these licenses, but more are expected to open in the coming months and years.
legal cannabis is expected to generate 63,000 jobs across New York by 2025, many of them in retail and hospitality. This is a significant economic opportunity for the state, which has been hit hard by the COVID-19 pandemic. The cannabis industry has the potential to create jobs and generate revenue for the state, while also providing a safe and regulated source of cannabis for adults who choose to use it.
In conclusion, the legal of recreational weed in New York is a complex process that involves many regulatory and social equity issues. While progress has been slow, there are positive signs that the industry is growing and that more dispensaries will be opening in the coming months and years. The cannabis industry has the potential to create jobs, generate revenue, and provide a safe and regulated source of cannabis for adults who choose to use it.
