New York has introduced a $5 million grant program aimed at aiding startup costs for adult-use cannabis social equity retail licensees. The initiative is designed to financially support individuals and nonprofits that qualify under specific criteria.
The grants, facilitated by the Office of Cannabis Management (OCM) and Empire State Development, will cover initial expenses ranging from $10,000 to $30,000 for Conditional Adult-Use Retail Dispensary (CAURD) licenses. These licenses are specifically reserved for “justice-involved” individuals and nonprofits.
To qualify for the grants, CAURD license holders must provide several documents, including a photo ID, their CAURD license number and issuance date, an OCM licensure notice, eligible receipts, and a W-9 form. The distribution of grants will occur on a first-come, first-served basis.
CAURD holders have encountered various obstacles since the rollout of New York’s adult-use cannabis program. These challenges include delays in licensing issuance and processing, ongoing litigation, difficulties in securing capital and real estate, and local government opt-outs.
Although adult-use cannabis was legalized in New York in March 2021, the first legal adult-use retailer did not open until December 2022, highlighting the complexities of the state’s rollout process.
