By some estimates, sales of legal cannabis in the United States are expected to top $30 billion by 2025. If cannabis is de-scheduled, this nascent industry is well-positioned to burgeon into the next great American capitalism story. The obvious question is: “Who will benefit?”
Continue Reading Social Equity in the Cannabis Industry: Is It Working?
On June 29, 2020, Colorado adopted a statewide social equity program (SEP) for permitting cannabis operators.[1] More specifically, House Bill 20-1424 (HB 20-1424) “defines social equity licensees, and modifies and expands the marijuana accelerator program to make it available for social equity licensees and retail marijuana stores.”[2] The new law enables a social equity licensee to participate in the state’s accelerator program, which, as managed by the Colorado Office of Economic Development and International Trade, supports cannabis business development.[3] Colorado’s accelerator licensing program, originally slated to go into effect July 1, 2020,[4] pairs low-income entrepreneurs with existing cannabis businesses and, under the new law, effective January 1, 2021,[5] accelerator licenses will now be available to social equity applicants.[6]
Continue Reading Colorado’s Accelerator Program Paves Way for a Social Equity Program