NY issues 1st licenses for legal pot dispensaries

NEW YORK — New York issued its first 36 cannabis dispensary licenses Monday, taking a monumental step in establishing a legal — and lucrative — marketplace for recreational marijuana.

The licenses approved by the state’s Cannabis Control Board were the first of 175 the state plans to issue, with many in the first round reserved for applicants with past convictions for marijuana offenses.

Eight nonprofit groups were among the 36 licensees granted Monday.

Some of the dispensaries, selected from a pool of more than 900 applicants, are expected to open by the end of the year.

New York has also planned a $200 million public-private fund to aid “social equity” applicants to help redress the ravages of the war on drugs, especially in communities of color.

“Today is a monumental day for New York’s nascent cannabis industry. With the first adult-use retail dispensary licenses in the hands of businesses and eligible nonprofits, we’ve ensured the first sales will be made at dispensaries operated by those impacted by the unjust enforcement of cannabis prohibition,” said Tremaine Wright, who chairs the Cannabis Control Board.

A court ruling earlier this month has delayed the board from approving dispensaries in some parts of the state amid a legal dispute over licensing criteria.

With the first licenses now issued, it remained to be seen whether officials would step up their efforts to go after scores of unauthorized dispensaries opened in the past year by people who shrugged at licensing requirements.

New York legalized recreational use of marijuana in March 2021.