The New York State Cannabis Control Board voted last week to award licenses to 114 new cannabis companies and waive all conditional cannabis cultivator licensing fees for the next two years. The waiver covers fees for dispensaries transitioning to non-conditional license types including cultivation businesses and microbusinesses, which can range from $4,500 to $40,000 depending on the license’s canopy size.
With the new licenses, there are now 88 licensed and operational dispensaries in New York, according to a press release from the office of Gov. Kathy Hochul (D).
The governor has heavily critiqued the state’s adult-use cannabis roll-out and recently ordered an audit of the entire program, tasking a commissioner from the Office of General Services and other state officials to embed with cannabis industry regulators, identify ways to speed up the cannabis licensing process, and further optimize the Office of Cannabis Management (OCM).
Lawmakers in the state Senate recently allocated $128 million of the state budget to aid the state’s struggling cannabis growers with tax adjustments and financial support for farmers. (Full Story)