New York to Open its First Recreational Marijuana Dispensary by the End of the Year


New York's first legal dispensary for recreational marijuana is set to open on Dec. 29, kicking off one of the nation's most lucrative industries.

Among 36 recently licensed dispensaries, Housing Works, an organization that serves people living with HIV and AIDS in Manhattan, will become the first to begin selling cannabis to the general public.

The announcement came one month after the state's Cannabis Control Board issued the first wave of licenses, marking a significant step toward creating a legal marijuana market.

About 900 applications are awaiting word on their status as the state is anticipated to grant an additional 139 licenses in the upcoming months.

"The industry will continue to grow from here, creating inclusive opportunity in every corner of New York State with revenues directed to our schools and revitalizing communities," said Gov Kathy Hochul.

In March 2021, recreational marijuana usage became legal in New York.

One of the eight nonprofit organizations among the initial licensees was Housing Works, which provides services to the homeless and ex-offenders.

According to Charles King, chief executive officer of Housing Works, "This opportunity will not only give our team the resources to further our overall mission but to feature and elevate products coming from LGBTQ+, BIPOC, and women-led cannabis brands across the state."

There will be a $200 million public-private fund set up to help applicants with "social equity" issues who have previously been convicted of marijuana offenses and some nonprofit groups.
The post New York to Open its First Recreational Marijuana Dispensary by the End of the Year appeared first on Baller Alert.


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