[ad_1]
ALBANY, N.Y. (NEWS10)– For the past two months, those wanting to get in on New York’s cannabis industry have had the opportunity to apply for an adult-use license— whether it be for cultivation, processing, distribution, retail dispensary, or microbusiness.
“We don’t yet know, what the final numbers are going to be, but we did see from the first application window that closed on November 17th, we received over 2,000 applications through that window and we are expecting significantly more for this round,” explained John Kagia, Director of Policy at the Office of Cannabis Management.
According to Kagia, licenses will be given to applicants based on a randomized drawing. “We’re expecting that we’ll be able to start issuing these licenses as we get into the second part of January 2024.”
The Office of Cannabis Management said there is a 30-day window for applicants to make adjustments if selected.
Lauren Rudick, of Rudick Law Group, said she has been busy helping applicants increase their chances of being picked.
“Because this is sort of a randomized queuing lottery process, there is some strategy to increasing your odds for the lottery,” said Rudick. “We have a lot of conglomerates of applications going in, as well as applicants who are just submitting a single application. You’re limited by the true parties of interest restrictions. So for cultivators for example, you can only submit one application for one cultivator license since you’re only allowed to own one, but for retail for example, you can have up to three.”
Kagia explained what comes next.
“For those who may not be selected for licenses this round, don’t be disheartened,” said Kagia. “This is just the beginning. This is not gonna be an ultra-limited licensed market. There will be plenty more opportunities for licenses ahead.”
[ad_2]
