New York State is set to announce plans for the first marijuana retail sales by the end of 2022, with the first 100 retail licenses being reserved for people with previous marijuana convictions.
According to the New York Times, state officials reportedly intend to reserve the first 100 or more retail licenses to sell marijuana in New York for people who have been convicted of related offenses or their relatives.
Governor Kathy Hochul is expected to announce the policy Thursday as part of an effort to promote weed-related business ventures to those most impacted by the “war on drugs.”
Early projections claim the marijuana industry will bring in around a billion dollars for the state, and New York is actively trying to avoid the pattern which has happened in other states of wealthy start-ups dominating the industry.
Hochul has already proposed $200 million to support the marijuana industry in the state, with the funds set to go to finding and renovating storefronts for marijuana business owners.
Recently, half of all marijuana licenses in the state, per the passing of recreational marijuana usage and possession last year, have been reserved for previously marginalized groups like women, minorities, struggling farmers, veterans, and “individuals who have lived in communities disproportionally impacted” by the effects of the criminalization of cannabis.
The state also hopes these measures inspire illegal marijuana dealers to apply for licenses, as many will be considered eligible under the new policy.
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