Close Menu
  • Home
  • News
  • Lifestyle
  • Law
  • Business
  • Education

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025
Facebook X (Twitter) Instagram
Saturday, May 31
  • Home
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook X (Twitter) Instagram LinkedIn VKontakte
Smoke Professional
  • Home
  • News

    More Than 1,000 Arrested in Sweep of U.K. Weed Grows

    July 8, 2023

    Scotland Calls On UK To End ‘Failed’ Drug War With Decriminalization And Harm Reduction Approach

    July 8, 2023

    Germany’s draft law for first phase of cannabis reform

    July 8, 2023

    High Times Cannabis Cup Illinois: People’s Choice Edition 2023 Kicks Off

    July 8, 2023

    Pennsylvania Committee Advances Expansion to State Medical Cannabis Program

    July 7, 2023
  • Lifestyle

    How Watching the News Can Trigger Anxiety and Panic Attacks

    October 28, 2024

    Record High Cannabis and Hallucinogen Use Among Adults

    October 27, 2024

    Weekend Sleep Catch-Up May Lower Heart Disease Risk by 20%

    October 27, 2024

    Energy Drinks Linked to Poor Sleep Quality and Insomnia

    October 26, 2024

    First Psychedelic Church for Magic Mushrooms

    October 26, 2024
  • Law

    Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

    May 30, 2025

    Federal Lawmakers Call for Medicaid Fraud Investigation Into Florida Anti-Cannabis Political Group

    May 26, 2025

    Minnesota Ends Criminal Penalties for Bong Water

    May 23, 2025

    Minnesota Bill to Set Up Adult-Use Cannabis Industry Moves to Governor

    May 22, 2025

    Pennsylvania House Passes Cannabis Legalization Bill

    May 8, 2025
  • Business

    U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

    May 29, 2025

    Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

    May 28, 2025

    Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

    May 28, 2025

    Washington to Issue New Social Equity Cannabis Licenses This Summer

    May 27, 2025

    DEA Raid Confiscates Over 29,000 Cannabis Plants in New York

    May 26, 2025
  • Education

    CBD and the Aging Population—What Science Says Today

    March 12, 2025

    Wholesale Nootropic Skincare: Boost Your Product Line

    March 10, 2025

    Ideal for Your Business Needs

    March 8, 2025

    A Must-have For Every Smoke Shop

    March 3, 2025

    The Perfect Addition to Your Product Line

    March 1, 2025
Smoke Professional
You are at:Home»Business»New York Officials Release Multi-Year Cannabis Industry Report
Business

New York Officials Release Multi-Year Cannabis Industry Report

adminBy adminOctober 4, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
New York Officials Release Multi-Year Cannabis Industry Report
Share
Facebook Twitter LinkedIn Pinterest Email

A three-year implementation report by the New York Office of Cannabis Management (OCM) and Cannabis Control Board (CCB) documenting the state’s adult-use cannabis reforms process was released on Thursday, highlighting industry trends, the successes and shortcomings of the state’s equity program, and more.

According to the report, 1,342 adult-use cannabis licenses have been issued, including more than 200 retailers, and 67% of New York-based cannabis consumers reported having purchased from a legal source. Additionally, the state-wide adult-use market generated $653.9 million in revenue in 2023.

The report also noted that 54.7% of the adult-use licenses have been awarded to applicants eligible for the state’s social equity program, surpassing the goal of 50% set by the state. However, only about 20 operators so far have utilized the Cannabis Social Equity Investment Fund.

New York’s legalization law includes expungement provisions covering more than 400,000 cannabis-related crimes, the report said, and more than 200,000 convictions have already been sealed, with another 107,000 awaiting sealing.

Tremaine Wright, Chair of the Cannabis Control Board, said in an introduction to the report that despite some “growing pains” for the industry — Gov. Kathy Hochul (D) earlier this year called the state’s adult-use roll-out a “disaster,” for example — the regulatory agencies “acknowledge the opportunities to build upon what we’ve started and look forward to continuous improvement and adaptation to meet the rapidly evolving needs of our cannabis community and industry.”

“I am proud to report that we continue to surpass our statutory goals in building a richly diverse and vibrant market. OCM has worked closely with us to design a dynamic and responsive licensing and compliance framework – true cornerstones of the market – which we continue to improve upon each and every day” — Wright, excerpt from the report

The report also noted that regulators have carried out 1,341 inspections on adult-use cannabis operators, leading to 1,135 violation notices. The report said that law enforcement has seized over 27,318 lbs. of unlicensed cannabis products since the industry’s launch, nearly $120 million worth.

Get daily cannabis business news updates. Subscribe

Ganjapreneur is made possible by our partners:


Source link

cannabis industry MultiYear Officials Release Report York
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleHow the 2024 UK Tobacco Price Increase Will Impact Retailers
Next Article Hopeful Cannabis Licensees Camp Out for 3 Weeks for First-Come, First-Serve Licenses
admin
  • Website

Related Posts

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Comments are closed.

Our Picks

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Law

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

By adminMay 30, 20250

Republican lawmakers in Ohio are seeking to make changes to the 2023 cannabis legalization law approved…

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025

Subscribe to Updates

Get the latest creative news from Smoke Unlimited about Weed & CBD vaping.

From Our Partners
About Us
About Us

Get all the current news stories, latest trends and legislation regarding cannabidiol, products, usages and its benefits. So don’t miss out any buzz and stay tuned! We offer a minute to minute updates regarding Marijuana industry.

Facebook X (Twitter) Instagram Pinterest
Our Picks

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025
Sponsors
Copyright © 2025. SmokeProfessional
  • Home
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.