NY Set to Double Number of Licenses for Cannabis Dispensaries Across State

New York is doubling the number of licenses to open cannabis dispensaries across the state.

The Cannabis Control Board and the Office of Cannabis Management announced it will increased the number of Conditional Adult-Use Retail Dispensary Licenses that will be issued from the originally planned 150 to 300 licenses.

“With this expansion, more entrepreneurs will be able to participate in the first wave of this industry, allowing them to capitalize on the growing demand for cannabis products,” Tremaine Wright, Chair of the Cannabis Control Board said.“

The announcement will allow for the growth of the state’s Seeding Opportunity initiative, which allows for the operation of these business by individuals impacted by the prohibition of cannabis and by nonprofit organizations aimed to support individuals who were formerly incarcerated.

The New York State Marijuana Regulation and Taxation Act of 2021 (MRTA) aims to build an equitable market that helps overcome the impacts of the disproportionate enforcement of cannabis prohibition, by giving priority for these licenses to individuals with cannabis convictions.  

The Office of Cannabis Management (OCM) received about 900 applications for CAURD licenses. To date, the Cannabis Control Board has issued 66 provisional CAURD licenses.

This licensure effort was enhanced through the creation of the $200 million New York State Social Equity Cannabis Fund, a public-private partnership providing renovated, retail locations to the initial 150 licensees – a first of its kind effort in the nation designed to help break down barriers.

The license expansions are: