This week the New York Cannabis Control Board approved 105 adult-use cannabis licenses. The issuance of the latest round of adult-use cannabis industry licenses in New York brings the state’s total up to 654 for the calendar year.
“New York is building a robust and equitable legal market that is driving significant economic growth within our communities,” Governor Hochul said in a press release. “The issuance of 105 additional adult-use licenses is just the next step in developing the nation-leading industry New Yorkers expect and deserve.”
The breakdown of the 105 license types that were recently approved includes:
- Adult-Use Cultivator License: 25
- Adult-Use Distributor License: 22
- Adult-Use Microbusiness License: 22
- Adult-Use Processor License: 19
- Adult-Use Retail Dispensary License: 17
- 45 out of the 105 are transitioning AUCC or AUCPs
“The new licenses bring the total number of permits awarded to 1,117. That includes the 463 social equity retail permits issued last year and the 654 adult-use licenses given out so far in 2024.” Green Market Report stated about New York’s legal industry.
In addition to issuing new licenses, the New York Control Board approved a resolution to permit personal home cultivation of cannabis, enabling adults aged 21 and older in New York State to cultivate cannabis at home.
Home cultivation allowances in New York include:
- Adults can grow up to six plants individually
- Maximum of 12 plants per household
- Registered medical cannabis patients can have a designated caregiver grow on their behalf, provided no one can exceed the maximum of 12 plants per household
“Governor Hochul and the Office of Cannabis Management are proud to announce the robust growth and dynamic advancements in New York’s cannabis industry. In May alone, sales surged by $4.4 million, reaching a total of $46.2 million, and with the month ending with a new weekly sales record of $12.5 million. Projections show that 2024 cannabis sales will exceed $200 million by early June, underscoring the sector’s rapid expansion and growing consumer capture.” the Governor’s office stated.
“A key driver of this success is the Social and Economic Equity (SEE) program, which continues to promote inclusivity and opportunity within the industry. Impressively, 57 out of the 105 new applicants, or 54 percent, are SEE candidates. This cohort includes 5 CDI (Community Development Initiative) participants, 7 distressed farmers, 22 minority-owned businesses, 7 service-disabled veteran-owned businesses, and 16 women-owned businesses.” the Governor’s office also stated.
Currently, there are over 132 licensed cannabis dispensaries operating across the Empire State. A full list of New York’s licensed, operational adult-use cannabis retailers is available here.