New York State has reached a significant milestone in the development of its legal cannabis industry with the opening of its 100th Conditional Adult-Use Retail Dispensary, Big Gas, located in New Paltz. This event marks a historic moment for the state, reflecting the rapid growth of the cannabis market and the state’s commitment to social equity and inclusivity.
Governor Kathy Hochul celebrated the opening of the state’s 100th legal dispensary, a landmark achievement more than three years after the legalization of recreational cannabis. The opening of Big Gas Dispensary is a testament to the state’s efforts to establish a thriving and equitable cannabis industry.
The Office of Cannabis Management (OCM) is currently undergoing a top-down review directed by Governor Hochul, which is expected to last at least 30 days. This review, conducted by state Office of General Services Commissioner Jeanette Moy, aims to assess and improve the functioning of the OCM. Despite the review, the Cannabis Control Board has issued 105 retail licenses so far this year and does not cap them, indicating a push to increase the number of retail licenses.
Governor Hochul has stated that the board has accelerated its approval process in the last month since Commissioner Moy commenced her review. However, department leaders have cautioned that issuing too many licenses too quickly could potentially collapse New York’s market.
The state’s cannabis law focuses on social equity, prioritizing applicants impacted by past drug laws. This focus has been both a cornerstone and a challenge, as it aims to rectify the injustices of the past while also fostering the success of the industry. The state has surpassed its Social and Economic Equity (SEE) goal set out in Cannabis Law by awarding 60 percent of licenses to social and economic equity applicants.
New York’s commitment to inclusivity is further highlighted by the fact that approximately 50 percent of the state’s open dispensaries are Minority- and/or Women-Owned Businesses. This is a significant contrast to the national average, where only 19 percent of adult-use dispensaries are majority minority-owned.
The state’s Social Equity Cannabis Investment Fund has played a crucial role in supporting these businesses. The fund assists those impacted by the inequitable enforcement of cannabis laws, providing opportunities for entrepreneurs like Extasy James and Michael James, Jr., who operate the woman-owned family business Good Grades.
The fund also supports the CAURD license, a central pillar of the New York State Seeding Opportunity Initiative, which is designed to provide licenses to justice-impacted individuals or nonprofit organizations that support the formerly incarcerated.
As New York continues to expand its legal cannabis market, it is also addressing the issue of illegal dispensaries. Governor Hochul’s legislation has led to comprehensive enforcement measures, resulting in the inspection of 350 locations and the seizure of over 11,000 pounds of illicit cannabis.
The state’s cannabis industry has shown impressive retail sales figures, with total sales exceeding $237 million within its first year of operation. With several hundred more stores in the process of opening, New York is poised to further solidify its position as a leader in the equitable and successful rollout of the cannabis market.
The opening of the 100th dispensary in New York is more than just a number; it represents the state’s dedication to creating a diverse, inclusive, and equitable cannabis industry. As the state continues to issue licenses and support minority and women-owned businesses, it sets a precedent for the rest of the nation to follow.