New York will begin accepting adult-use retailer licenses on August 25

Aug 12

New York regulators will begin accepting applications for NY’s Conditional Adult-Use Retail Dispensary licenses on August 25. This application window will be opened for one month and is only available to entities majority controlled (30% by one controlling individual/entity, 51% in the aggregate by qualifying indivduals/entities) by qualifying Justice Impacted individuals and qualifying non-profits.

Justice impacted individuals are persons who:

(1) were charged with a cannabis related offense in NY and were convicted of that or a lesser charge and (2) have owned more than 10% of a business that was profitable for 2+ years.

Qualifying non-profits must have:

(1) a history of intentionally serving current or formerly incarcerated individuals, including justice involved individuals, (2) a history of creating vocational opportunities for current or formerly incarcerated individuals, including justice involved individuals, (3) at least one justice involved board member, officer, governing committee member, or advising committee member, (4) at least five full time employees, and (5) operated a social enterprise that had net assets or profit for at least two years, defined as a business serving customers, operated by a nonprofit, or fiscally sponsored by a nonprofit, which both fulfills the parent organization’s mission and generates revenue.

Interested applicants should begin preparing required documents before the application portal opens. The application period for this license type will close on September 26.

Read our latest in-depth report on New York cannabis opportunities here