NY Gov. Pledges $200M To Create Equitable Pot Industry

By Sam Reisman (January 5, 2022, 8:14 PM EST) -- New York Gov. Kathy Hochul pledged Wednesday to commit $200 million in public and private funds to support social equity applicants looking to build their adult-use cannabis businesses in the Empire State.

The policy, released in tandem with the Democratic governor's first State of the State address, is intended to help realize the state's goal of ensuring half its adult-use cannabis businesses are owned by minorities, women and others disproportionately impacted by prohibition.

"This fund will provide direct capital and startup financing to social equity applicants as the State takes meaningful steps to ensuring that New York's cannabis industry is the...

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