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NEW YORK, Dec. 22 (AP) — New York’s first legal dispensary for recreational marijuana will open Dec. 29, signaling the long-awaited start of a marijuana industry that could become one of the most lucrative in the country.
Housing Works, a Manhattan minority-controlled nonprofit serving HIV and AIDS patients, will become the first of 36 recently licensed dispensaries to begin selling marijuana to the public, Gov. Kathy Hochul announced Wednesday — This is despite the fact that dozens of illegal shops have been operating for months.
The announcement comes after the state’s Marijuana Regulatory Commission took a landmark step toward establishing a legal market for legal marijuana by issuing the first round of licenses. Over the next few months, the state expects to issue 139 more licenses, with about 900 applicants waiting to learn their fate.
“The industry will continue to grow from here, creating inclusive opportunities in every corner of New York State and directing revenue to our schools and revitalizing our communities,” Hochul said in her statement.
New York legalized the recreational use of marijuana in March 2021.
Housing Works, which also serves the homeless and the formerly incarcerated, was one of eight nonprofits initially licensed.
“This opportunity will not only provide our team with resources to advance our overall mission, but showcase and promote products from LGBTQ+, BIPOC and women-led cannabis brands across the state,” said Housing Works CEO Charles King.
The state reserves the first round of retail licenses for applicants with marijuana convictions or their relatives, as well as some nonprofits. It also plans to create a $200 million public-private fund to help “social equity” applicants. (Associated Press)
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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