California officials have announced that they’re awarding $18.4 million in marijuana tax-funded grants to cities and counties across the state to support equity programs and help remove barriers to entry in the cannabis industry.
This is the latest round of funds that the Governor’s Office of Business and Economic Development (GO-Biz) is providing under its Cannabis Equity Grants Program for Local Jurisdictions.
The purpose of the program is to “aid local efforts to support applicants and licensees by offering technical support, regulatory compliance assistance, and assistance with securing the capital necessary to begin a business,” GO-Biz said in a press release on Tuesday.
“Offering these types of assistance also supports statewide efforts to reduce and eliminate the illicit cannabis market by bringing more people into the legal marketplace,” it said.
The grant funds will go toward “a range of activities, including the support of program applicants and licensees who face financial barriers to entry into the cannabis industry by providing low/no-interest loans or grants, reduced licensing fees or waived fees and technical assistance, including one-on-one consulting and training, and navigation assistance with cannabis licensing and regulatory requirements.”
The office said that, with this latest funding round, the program has provided $123.4 million
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