At its monthly meeting on Thursday, the New York State Cannabis Control Board (CCB) approved nearly 100 additional adult-use licenses across the marketplace.
The CCB signed off on 93 new adult-use cannabis licenses, bringing the total to 1,707, including 268 CAURD licenses. Of those approved at the meeting, 63% are held by Social and Economic Equity (SEE) licensees. This progress reflects the CCB’s and OCM’s commitment to fostering an inclusive, growth-driven cannabis market.
Of the 1,707 adult-use licenses issued by the Board, 55% have been awarded to Social and Economic Equity applicants. This includes Community Disproportionately Impacted (CDI) applicants (18%), distressed farmers (9%), minority-owned businesses (47%), service-disabled veteran-owned businesses (7%), and women-owned businesses (57%).
New York’s cannabis industry sales reached $139.7 million over the 5-week reporting period in March. It brings the year-to-date total past $375 million. The Office anticipates April will be on pace to surpass March, as total retail sales approach nearly $1.5 billion.
As access increases statewide, the average retail cost of many cannabis products has dropped by roughly 10% over the past year.
There are currently 366 legal dispensaries open for business across the Empire State. A full list of New York’s licensed, operational adult-use cannabis retailers is available here.
