The state of New York is set to announce plans for the first marijuana retail sales by the end of year, with the first 100 retail licenses being reserved for those with marijuana convictions, the New York Times reports.
Governor Kathy Hochul is expected to announce the policy on Thursday as part of an effort to favor weed-related business ventures to those most impacted by the war on drugs. The marijuana industry is projected to bring in around a billion dollars for the state, and New York is looking to avoid the pattern in other states of wealthy start-ups dominating the industry.
Hochul has already proposed $200 million to support the marijuana industry in New York, with the funds set to go to finding and renovating storefronts for business owners. Half of all marijuana licenses in the state, per the passing of recreational marijuana usage and possession last year, have been reserved for women, minorities, struggling farmers, veterans, and “individuals who have lived in communities disproportionally impacted” by the criminalization of cannabis.
Chris Alexander, the executive director of New York’s Office of Cannabis Management, said the state is in a “position to do something that has not been done before.” He added that he expects between 100 to 200 licenses will go to those with marijuana-related offenses before the legalization of the drug, or individuals with “a parent, guardian, child, spouse, or dependent” with such a conviction. The state also hopes to persuade illegal marijuana dealers to apply for licenses, as many will be considered under the new policy.
Alexander said the idea to give priority to “equity entrepreneurs” over established marijuana companies would help them compete in what is certain to be a competitive industry. “I could press the green button right now and have 40 dispensaries online,” said Alexander. “But instead we’ve decided that the folks who have been most impacted actually have the space and the real runway to participate in a meaningful way.”
When recreational marijuana was legalized in New York last year, the state expunged many previous convictions.
