New York State to Issue 1445 New Cannabis Licenses

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New York State plans to issue up to 1,445 new cannabis licenses in the coming weeks to boost the legal marijuana industry.

According to a recent report by American local media elespanol, the state of New York in the United States is set to issue up to 1445 new cannabis business licenses in the coming weeks, aiming to boost the growth of the legal marijuana industry.

According to local media reports, these licenses will be issued to retailers, as well as to manufacturers or small-scale businesses, as bureaucratic and legal issues have arisen after the legalization of recreational marijuana in the state in 2021, making it difficult for them to enter the market.

By the end of 2022, the first legal recreational marijuana store in New York opened its doors. Since then, only 40 stores in the entire state have remained operational, falling far short of the government’s initial goal of having at least 150 stores in operation by the end of this year.

Many legal marijuana dispensaries are unable to compete with the illegal marijuana market, which sometimes operates almost indistinguishably from licensed businesses.

The authorities are hoping to prioritize businesses that have already leased or own premises for the new license. The issuance of the new license is expected to commence in January or February.

In November 2022, The New York Times reported on the situation of over 270,000 kilograms of marijuana being stuck in warehouses due to delays in the opening of legal cannabis stores.

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