The Cannabis Association of New York held its first Black History Month event, highlighting Black pioneers and entrepreneurs in the state’s budding cannabis industry.
The entrepreneurs being honored shared their journeys of obtaining their cannabis licenses and received awards for their work in business as well as in their communities. New York initially took extra steps to set up a “social equity” framework that allowed for those most impacted by the War on Drugs and previous cannabis prohibition legislature to have the first and fair shot at obtaining business licenses.
“Most Black and brown people, we lived in communities that were heavily policed. We were the most impacted by the war on drugs,” said Nicole Nidiaye, the first woman of color to obtain a cannabis license in the state of New York. “It was a trickle effect, because if your dad or mom got arrested for marijuana, they couldn’t go to school, they couldn’t get a degree, they couldn’t get an education to get a high-paying job.”
Successful social equity applicants receive aid from a $200 million Social Equity Cannabis Investment Fund, created to help finance the leasing and equipment for up to 150 dispensaries across the state. Kaliko Castille, board president of the Minority Cannabis Business Association, said New York has one of the better written legalization efforts due to the focus the state has on supporting ad uplifting social equity businesses.
New York City recently opened its third legal recreational cannabis store, Union Square Travel Agency: A Cannabis Store, in Lower Manhattan. The opening of the store is part of New York State’s Seeding Opportunity Initiative, which aims to advance the state’s goals of social equity in the cannabis industry. Under the initiative, the first recreational dispensaries will be owned and operated by those impacted by the War on Drugs, or nonprofit organizations who support those who were formerly incarcerated.
“We are incredibly grateful to everyone who has contributed to the opening of the Union Square Travel Agency: A Cannabis Store. From our amazing partners at The Doe Fund who had the courage and innovation to embrace this opportunity; to the OCM, New York State and New York City in paving the way for this new industry and their ongoing commitment in ensuring this legal industry will be a success; our amazing team members who have worked day and night to get us to this point; and our friends & family who have supported us in this endeavor from the beginning,” said CEO of Union Square Travel Agency: A Cannabis Store, Paul Yau.
It is the third Conditional Adult-Use Retail Dispensary (CAURD) location and to be eligible for a CAURD license, applicants must either have a previous cannabis conviction on their record or be a close family relative of someone who does, and own or have owned a business that had a net profit for at least two years. Nonprofits are also eligible for a CAURD license if they meet several conditions as well.
As part of the continuing effort to support social equity cannabis businesses that receive CAURD licenses, New York selected Dutchie to be the exclusive technology partner and point-of-sale hardware for all CAURD licensees.
“We are proud to be named the exclusive technology partner to help support New York’s CAURD licensees,” Dutchie CEO Tim Barash said in a statement. “Dutchie is committed to powering cannabis commerce and supporting the industry with powerful and easy-to-use technology. Our partnership helps advance our mission to create safe and easy access to cannabis in one of the largest and most exciting markets in the country. We look forward to helping advance the state’s social equity goals by helping applicants and licensees streamline operations, serve happy customers and help their businesses thrive.”
