New York expands legal marijuana licenses — but some would-be retailers feel left behind
Publishing timestamp: 2023-09-14 13:48:03
Summary
The article discusses how New York is struggling to open enough retail dispensaries for legal marijuana and rein in illicit operators. Regulators have announced a new framework that will make licenses available to the general public and large multistate manufacturers and medical companies. However, this change may leave behind hundreds of social-equity businesses that have been unable to open due to legal challenges. The article highlights the challenges faced by entrepreneurs who have been awarded licenses but have been unable to open their businesses due to lawsuits and regulatory hurdles. The new regulations aim to expand New York's legal weed market, but it has caused frustration among those who were prioritized for licenses based on prior marijuana-related convictions. The article also mentions the potential financial impact of the new framework and the projected growth of New York's recreational market.
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Keywords: health care industry, retail industry, new york city, green thumb industries inc, columbia care inc, curaleaf holdings inc, business news, business, marijuana, breaking news: business, cresco labs inc, new york, ascend wellness holdings inc,
Source: https://www.cnbc.com/2023/09/14/new-york-legal-marijuana-program-expands-retail-licenses.html