New York regulators plan to issue as many as 1,500 new marijuana business licenses as unsold cannabis continues to build up among growers in a market where only a couple of dozen retailers have opened their doors.
The state’s Office of Cannabis Management (OCM) on Tuesday said it will begin accepting applications Oct. 4 for cultivation, retail, processing and microbusiness licenses, Bloomberg first reported.
ADVERTISEMENT
The application window will open for 60 days.
The state has issued about 700 conditional licenses, including:
463 for social equity retailers and 10 for nonprofit retailers under its conditional adult-use retail dispensary (CAURD) program. 273 for cultivation. 40 for processing.
The vast majority of CAURD holders and applicants are in a holding pattern after an August ruling by a New York judge that halted all business applications and approvals to open adult-use stores in the state.
These businesses
Read full article on Marijuana Business Daily
