Oneida Indian Nation tribe to launch marijuana business in New York

The Oneida Indian Nation is planning to break ground on a marijuana facility in October, making it the latest Native American tribe to join the industry in the state.

The tribe is planning a 50,000-square-foot marijuana cultivation and processing facility on tribal lands as well as retail stores scheduled to open sometime in 2023, according to a news release.

The cultivation and manufacturing facility will be located in Verona, New York.

The marijuana business will be regulated by the Oneida Nation Cannabis Commission, an independent regulatory oversight body for the safety and compliance of the cannabis business.

Rules are expected to be comparable to New York’s marijuana regulations.

The Oneida Indian Nation will charge and collect taxes at the same level as the state, and the tribe is expected to dedicate those tax proceeds to tribal government programs such as public safety, health care, affordable housing, education and cultural preservation.

“As more and more states across the country enter into the cannabis business, including neighboring states and other tribal nations, it is important that the Oneida people not be left out from taking advantage of this economic opportunity,” Ray Halbritter, Oneida Indian Nation Representative, in a release.

A number of marijuana operations are doing business in the state, though they are exempt from New York cannabis regulations.

Source: https://mjbizdaily.com/oneida-indian-nation-tribe-to-launch-marijuana-business-in-new-york/