The report is the first published since the state's legal market began.
In early October 2024, the New York State Office of Cannabis Control (OCM) released a three-year report on progress in building out various parts of the state's legal cannabis industry, including the adult-use cannabis, medical cannabis, and cannabinoid hemp industries. Announced. . The 102-page report, titled “Marijuana Regulation and Taxation Act (MRTA) Enforcement Report,” examines the marijuana industry's economic and financial impacts, public health and safety impacts, and social and economic equity. goals, eliminating illicit markets, improving sustainability, and recommendations for achieving those goals.
“In this implementation report, you will learn more about OCM's vision as it applies today and extends into the future,” said Felicia AB Reed, OCM Under-Secretary-General and Acting Director-General, in a letter included in the report. It says inside. “Rooted in a commitment to equity and restorative justice, OCM is actively shaping the next chapter of market potential every day.”
This report highlights key findings in various categories.
Regarding the impact on the economy and finances, for example, the following points are pointed out.
1,342 adult-use cannabis licenses issued, with total adult-use retail sales reaching $653.9 million as of September 2024
Public health and safety goals:
9,000 incident report form submissions 15,600 lots of adult-use and medical cannabis submitted for clinical testing
Regarding social and economic equity goals:
54.7% of adult-use licenses will be awarded to applicants with social and economic equity (SEE) qualifications 400,000 cannabis-related convictions will be subject to revocation
To advance the elimination of illegal markets:
In 2023, 67% of New Yorkers who consumed cannabis in the past year purchased the product from a legal retailer. Unlicensed products seized
OCM is managed by the New York State Cannabis Control Board (CCB) and works closely with the New York State Cannabis Control Board (CCB) to produce its reports.
“As OCM celebrates three years of service to the state, there is still much work ahead and much to celebrate,” CCB Chair Tremaine Wright said in a letter included in the report. I am aware of that,” he said. “In this report, you can read about our major milestones in economic development, public health, and social equity. The core of the MRTA is built on equity, and we are committed to building a diverse, vibrant and OCM is proud to work closely with us to continue to exceed our statutory goals of building a dynamic and responsive licensing and compliance marketplace. We have designed a framework that we continue to improve every day, mainly thanks to your feedback.
New York's medical cannabis program began with the Compassionate Care Act of 2014, and the MRTA was signed into law in 2021.
