California awarded another $18,4 Million to 18 cities and counties in order to assist them with funding their own social equity business license programs. This is a distribution of annual payments by the Office of Business and Economic Development.
According to a recent press release from the State Office, this grant brings the total amount of financial support the state has made to local programs for social equity in the cannabis industry to $123.4 millions. This money will be spent on “low/nointerest loans, grants, waived or reduced fees, technical assistance and one-onone consultation and training as well navigation assistance regarding cannabis licensing” and other services.
The office reported that the funding from the state has so far helped the localities to issue 1 446 permits for social equity marijuana businesses.
Locality award winners include:
California Department of Tax and Fee Administration released its fourth quarter sales numbers for the legal marijuana industry. These were the lowest figures since early 2020.
The report comes just a few weeks after the Department of Cannabis Control of the State of California released a study that found the legal cannabis market to be growing, despite the fact it reported a decline in legal retail sales. It attributed this to a price reduction, with actual unit sales numbers increasing.