New York is rolling out a new grant program to help cannabis dispensary owners who have been impacted by past marijuana-related convictions. The program will provide up to $30,000 per business to cover essential expenses, with applications opening on March 4, 2025. The total funding available is $5 million, and grants will be awarded on a first-come, first-served basis until the funds run out.
This initiative supports businesses licensed under the Conditional Adult-Use Retail Dispensary (CAURD) program—a program designed to help individuals with past cannabis-related offenses get a fair start in the legal market. To qualify, applicants must have prior experience running a successful business.
How the Grant Can Be Used
The grant money can be used for various operational costs, including:
✔️ Rent for the dispensary space
✔️ Security systems and installation
✔️ Inventory tracking and point-of-sale systems
✔️ Business insurance and compliance upgrades
The program is being managed by Empire State Development in partnership with FORWARD, a third-party service experienced in handling grant distributions. Interested business owners can find more details on the New York State Office of Cannabis Management (OCM) website or reach out via email or phone for assistance.
Calls for More Financial Support
While this grant program is a step in the right direction, many business owners in the CAURD program are struggling with high-cost loans issued through a state-backed social equity fund. A group of licensed cannabis businesses recently urged Governor Kathy Hochul to forgive these debts, arguing that the financial burden contradicts the goal of promoting equity in the industry.
State Assembly Majority Leader Crystal Peoples-Stokes, who played a key role in shaping New York’s cannabis laws, has also called for more financial aid to help these businesses stay afloat. Several advocacy groups, including the NAACP New York State Conference, Black Cannabis Industry Association, and Drug Policy Alliance, have criticized regulators for favoring large corporations over small, equity-focused businesses.
Banking Access & Market Growth
In another move to support cannabis entrepreneurs, OCM recently launched a Cannabis Banking Directory, listing 10 financial institutions willing to work with dispensaries despite federal restrictions. This initiative aims to make financial services more accessible for cannabis businesses, which often struggle with banking due to federal prohibition.
Meanwhile, New York’s legal cannabis market is growing rapidly, surpassing $1 billion in sales since its launch in late 2022. The state has also been cracking down on unlicensed dispensaries, leading to a surge in legal sales.
New Cannabis Laws & Future Plans
New York has been introducing new cannabis policies to strengthen the industry, including:
🔹 A revived Cannabis Growers Showcase program, allowing small growers to sell directly to consumers at market-style events.
🔹 A law recognizing cannabis as an agricultural crop, providing more protections for cultivators.
🔹 A controversial drug testing proposal, allowing police to require drivers to take a drug test if they claim to smell cannabis—sparking backlash from reform advocates and lawmakers.
Additionally, state legislators are considering broad drug decriminalization and the legalization of certain psychedelics like psilocybin and ibogaine for adults over 21.
With these developments, New York continues to shape the future of its cannabis industry, aiming for equity, public safety, and economic growth.