New York’s grant program will begin accepting applications next week. It offers grants of up to $30,000.
Grants are designed to reimburse businesses that have been licensed as Conditional Adult Use Retail Dispensaries (CAURD). The eligible expenses range from $10,000 up to $30,000. To qualify for that program, an applicant has to have been “justice involved”—in other words, impacted by a marijuana-related conviction—and have some experience running a profitable business.
The program covers expenses such as commercial rent, improvements to the business that meet state regulations, like inventory tracking systems, hardware, installation of security, and insurance.
“The anticipated date for application availability is March 4, 2025″—this coming Tuesday, according to an information sheet published by regulators at the New York State Office of Cannabis Management (OCM).
The statement adds, “Awards will be given on a First-Come-First-Served basis until the available funds have been exhausted.”
OCM’s summary on one page explained how to administer these grants: “Empire State Development, a third-party company with extensive experience in administering the CAURD Program Grant, has contracted with FORWARD. This service will award CAURD Licensees who are eligible with funding that is vital to their business.”
In the document, it is stated that more information can be found on OCM’s CAURD website. The document also includes an email address and phone number for prospective applicants to contact if they have any questions.
In a separate call last month, an association of CAURD licensed businesses called Gov. Kathy Hochul, a Democrat, has offered to forgive high-cost loan amounts of tens or even hundreds of millions in a fund created by the governor.
Business owners claimed the program had “perpetuated the many economic inequalities it was meant to address.”
Crystal Peoples Stokes, Democratic majority leader in the State Assembly, and author of California’s Cannabis Law, stated that financial assistance was needed for CAURD licence holders who are suffering from high-cost loan payments.
Other critics—including the NAACP New York State Conference, Black Cannabis Industry Association, Minority Cannabis Business Association, Service Disabled Veterans in Cannabis Association, Drug Policy Alliance, NYC NORML and VOCAL-NY—wrote to Hochul earlier that month to express dismay at what they described as marijuana regulators’ “efforts in service of big corporations at the expense of small business and equity outcomes.”
They said then that state officials have demonstrated “a shift toward corporate interest at the expense small business and justice-involved entrepreneurs.” This is especially true for Conditional Adult Use Retail Dispensary licensees (CAURDs) who were directly affected by prior marijuana convictions.
The letter stated that “we believe these changes are a result of a lack in experience and exposure in cannabis market development and licensing regimes. As well as a bad demonstration of a dedication to leading the agency in accordance with the goals” set forth in New York’s adult-use marijuana law known as Marihuana Regulation and Tax Act, which was passed into law in 2020.
In addition, earlier this month regulators launched a resource that aims to link licensed marijuana businesses to banks willing to collaborate with the sector, despite federal prohibitions continuing to have a negative impact on financial services.
OCM’s Cannabis Banking Directory listed ten financial institutions initially that said they were servicing marijuana businesses. As New York’s cannabis market expanded, the list was updated to include new companies.
OCM announced that this initiative was part of its strategic effort to improve the financial stability and reduce regulatory barriers for cannabis business. Financial services that are accessible and compliant have long been an issue for cannabis businesses, and this has complicated essential operations.
The governor of 2023 signed legislation to ease the process for banks to deal with cannabis-licensed clients.
This law allows OCM to share information with financial institutions about licensees and applicants for marijuana businesses. It is intended to make it easier to comply with reporting obligations. The law requires that licensees or applicants consent before sharing information.
Meanwhile, a recent budget proposal from Hochul aims to empower police who claim to smell marijuana to force a driver to take a drug test—a plan that’s drawing pushback not just from reform advocates but also from the state’s Assembly majority leader and the governor-appointed head of OCM.
Recently, senators introduced a law for 2025 that would decriminalize the possession of drugs.
Several psychedelics bills have also been filed in New York—including one calling for the legalization of certain entheogenic substances such as psilocybin and ibogaine for adults 21 and older.
New York officials also recently announced that the state’s legal marijuana market has surpassed the $1 billion sales mark. The Governor called this milestone “a testimony to those hardworking individuals who have helped create the largest cannabis industry in America: an industry that values equity and public safety while empowering communities.”
The figure reflects total sales since the cannabis market’s launch more than two years ago, in late 2022.
After a slow rollout in marked by lawsuits and other delays, legal marijuana sales in New York have picked up significantly in the past several months. The regulators say this is due to more licensed shops opening and what they call a successful crackdown against unlicensed stores.
In November, Hochul signed two new cannabis-related bills into law—one to revive the Cannabis Growers Showcase program, where producers sell products directly to consumers at farmers market-style events, and another clarifying that cannabis is categorized as an agricultural crop in the state.
The governor argued in June, meanwhile, that there’s a direct correlation between stepped-up enforcement and “dramatically” increased legal sales. In a report released by officials in New York last year, they found “growing pains”, as well as “successful attempts” during the launch of New York’s cannabis market.
American Academy Of Pediatrics’ study shows licensed marijuana retailers consistently check customers’ age in order to avoid youth sales.