Business
New York announces limits on marijuana retail licenses, opens up applications
New York regulators set a cap of 150 for the number of conditional marijuana retail permits for the first round of adult-use business licensing, with those impacted by the war on drugs getting priority for the permits.
The state’s Office of Cannabis Management (OCM) was scheduled to begin accepting applications Thursday for the first set of retail licenses, with restrictions placed on regions based on their population.
According to the OCM, 90 of the state’s first 150 retail licenses are expected to go to New York City, with:
- 22 for Manhattan.
- 20 for Long Island.
- 19 for Brooklyn.
- 16 for Queens.
- 10 for the Bronx.
- 3 for Staten Island.
The Hudson Valley will receive 17 conditional licenses.
The full breakdown can be found here.
To be treated as a qualifying business, an applicant must have experience owning and operating a qualifying business.
Applications must be submitted by Sept. 26.
Adult-use sales are expected to begin in New York before the end of the year or in early 2023.
Source: https://mjbizdaily.com/new-york-announces-limits-on-marijuana-retail-licenses-opens-up-applications/