Illinois regulators released a report on Monday that shows a glaring lack of diversity among business owners in the state’s adult-use marijuana market. But it also outlines a plan to begin turning that around in the next fiscal year, with the industry set to significantly expand as nearly 200 new social equity businesses come online.
The Illinois Department of Financial and Professional Regulation’s (IDFPR) 2022 Annual Cannabis Report underscores a key reason the state has faced criticism from advocates over the rollout of the recreational marijuana market: Negligible racial and gender representation among business owners and corporate executives.
There are currently no active cannabis licenses with majority ownership by social equity applicants, people of color or people with disabilities. And there’s only one licensee with majority women ownership.
White people are disproportionately represented in every market category, including majority owners (88 percent), minority owners (71 percent), boards of directors (90 percent) and C-suite executives (80 percent). Black and Latino people account for less than 10 percent for most of the top positions.
Via IDFPR.
The diversity deficit has been met with sharp criticism from activists who feel that the state has failed to fulfill the promises of equitable legalization. A
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