Illinois has paused the licensing process for new adult-use cannabis retail stores to support outlets owned by social equity entrepreneurs. According to Democratic state Representative La Shawn Ford, this decision aims to provide opportunities for social equity holders to establish their businesses. Illinois law permits a maximum of 500 recreational cannabis stores. Currently, there are 260 licensed adult-use stores operating in the state. Additionally, 103 conditional social equity licenses have been granted, but many recipients struggle to secure the necessary capital to open their shops.
To give social equity entrepreneurs a better chance to succeed, the state will not issue licenses for the remaining 137 stores allowed under the current cap. Ford emphasized that this pause will help social equity businesses gain a foothold and attract principal investors.
Proposals included in a bill introduced by Ford aim to reduce barriers for social equity permit holders. These proposals suggest lowering or eliminating licensing fees for those who qualify for a hardship waiver and increasing the canopy size for small craft growers from 5,000 square feet to 14,000 square feet. The bill also seeks to allow social equity businesses to add owners solely for investment purposes.
In addition to these developments, existing cannabis businesses in Illinois have called for lawmakers to regulate the state’s market for hemp-derived THC products. A bill intended to limit this market stalled in the Illinois Legislature earlier this year, despite receiving support from Governor JB Pritzker.
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