New York State's Cannabis Control Board (CCB) yesterday approved 109 new licenses, along with long-awaited changes to advertising, labeling and packaging regulations.
The new controls and expanded powers mark some progress as the state's cannabis regulator continues to grapple with a huge backlog of license applications and tap into a thriving illicit market.
On July 10, the CCB Board unanimously approved nearly 110 new licenses, including 21 new dispensaries, 23 producers, 20 distributors, 23 small businesses, and 22 processors. .
Office of Cannabis Management (OCM) Director John Kagia said during the meeting that the agency's new efforts to crack down on the illicit market, which is believed to total 3,000 dispensaries in the state, are starting to show “very green shoots.” Ta.
Around 160 illegal shops are now padlocked under a new Operation Padlock and Protection launched in May.
This led to a 54% increase in legal sales in June to more than $71 million, bringing the total since legalization to $421 million.
“We have shut down illegal vendors, which has had a significant impact on retailers,” Kagia said.
The number of licenses issued this year is now believed to be just under 750, but there are fewer than 150 legal dispensaries operating in the state.
Despite the increased speed of license approvals, following last month's addition of 105 cases, there is still a significant backlog for regulators to address.
According to coverage of the Green Market Report meeting, one staff member suggested that 1,306 of the 1,850 applications submitted by mid-November were currently being reviewed, while another staff member indicated that the reviews were complete. He suggested it would take about 60 days.
It is currently unclear how the organization aims to tackle the more than 4,000 retail license applications that have been backed up since December, with Kagia saying: It's still a little early.”
In addition to the new license, OCM also voted to pass a number of amendments aimed at easing restrictions on companies' ability to sell their products.
The commission proposed new advertising rules for cannabis shops that would allow bright colors, price promotions, loyalty programs, and digital and billboard advertising to compete with the illicit market. These regulations will undergo a 45-day public comment period before taking effect.
