Minority-owned cannabis businesses are eligible for grants of up to $500,000 each from the Cannabis Social Equity Trust Fund, a state-funded fund that redistributes 15% of marijuana sales taxes to entrepreneurs in communities disproportionately harmed by the war on drugs.
Those seeking marijuana licenses and existing businesses with state social equity or economic empowerment designations are eligible to receive grants starting at $25,000. Applications are due Oct. 17.
Keisha Brice, chair of the Cannabis Social Equity Advisory Committee, said the companies would be offered up to $25 million in funding, with ultimate selection to be made by the Department of Economic Development.
The committee exists to “shape and influence what social equity should look like, while also highlighting why these programs are important to the industry and the marginalized people and communities they serve,” Blythe said in a statement. “Today, I can proudly say that this grant program is a positive result of that effort and work.”
The fund got off to a rocky start, having been left empty for more than a year due to transitional issues with the state budget after being established by the Legislature in 2022. Fifty grants ranging from $20,000 to $50,000 were distributed in April as a temporary solution called the Emergency Needs Grant Program.
Companies that have previously received funding from the fund will now be able to receive a second round of grants.
Chris Febry, founder of cannabis delivery company Your Green Package, said Massachusetts has been at the forefront of social equality in the marijuana industry and called the release of the funds “monumental.”
“This is a huge moment and the culmination of hard work from advocates, business owners and community stakeholders,” said Febry, who also serves on the Social Equity Committee. “Thanks to this funding, social equity in cannabis will improve and provide better opportunities.”
Diti Kohli can be reached at diti.kohli@globe.com. Follow her Follow.
