To date, New York’s cannabis industry has made more than $16.5 million in retail revenue since opening its first dispensary in late December, and dozens more statewide since then, according to data provided at the May 11 Cannabis Control Board Meeting.
New York’s rollout is far from the first in the U.S., but is uniquely championed by the state’s cannabis leaders for being the first legal cannabis rollout to prioritize justice-based individuals — those harshly impacted by cannabis enforcement and convictions — into future operators in a potential billion-dollar industry.
There are 13 open and operating legal dispensaries statewide, with four of the six NYC-licensed recreational dispensaries located in Manhattan. Of those six dispensaries, three are justice-involved, while the other three are run through nonprofits.
“I would say New York’s legalization of cannabis has been unconventional, and it’s been spectacular. It’s gone above expectation and confronting a problem that we’re lucky to face,” said Trivette Knowles, a public affairs officer at the state Office of Cannabis Management (OCM). “We’re the first state to legalize cannabis with an equity focus. … Essentially, addressing the harms previously doled out by the government to communities disproportionately impacted by over policing and over criminalization of cannabis.”
A majority of the state’s dispensaries are owned and operated by owned by Black New Yorkers, according to Knowles.
The state Office of Cannabis Management (OCM) estimated that of the 1.3 million cannabis-related arrests from 1980-2021, 57% of those arrests were Black and 25% were Hispanic. New York state paid more than $1.2 billion enforcing cannabis prohibition over that time span, meaning the state will need years to match that total in retail revenue.
But the equity-focused rollout has allowed individuals severely handicapped by decades-long cannabis enforcement to pursue entrepreneurial opportunities…
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