The Unveiling: New York’s New Cannabis Landscape
New York’s Office of Cannabis Management (OCM) has finally released its guide for the upcoming cannabis license application process, scheduled to begin on October 4, 2023. This is an insightful moment, particularly for those striving for social equity in cannabis entrepreneurship.
Key Dates: The Importance of November 3rd
While the application window is from October 4 to December 4, there’s a crucial deadline on November 3rd. If you already applied for a Cannabis Adult-Use Retail Dispensary (CAURD) license, you’ll need to have your resubmit application in by this date.
Why Timing is Everything
Given the legal landscape, OCM recommends considering a general license alongside or instead of a CAURD license. Diversifying your application might just tip the scales in your favor.
Types of Licenses and Estimated Availability
A quick breakdown of what’s on offer:
- Retail Dispensaries: 500-1000
- Microbusinesses: 220
- Processors: 155-∞ (varies by type)
- Distributors: 30
CAURD: A Special Mention
CAURD licenses have become the subject of a court injunction, making their future uncertain. The OCM is currently not guaranteeing that CAURD applications will be processed but has set the November 3rd deadline to keep the option open for reapplying applicants.
Social Equity: The Priority
OCM will prioritize Social and Economic Equity applicants, especially those who have participated in their Compliance Training & Mentorship programs.
A business location under your control is necessary to qualify. However, provisional licenses can temporarily fill the gap if you’re still searching for that ideal location.
The Economics of Applying
The application fee is a non-refundable $1,000 for general applicants and halved to $500 for Social and Economic Equity candidates.
Zoning: The Devil is in the Details
Keep in mind the various buffer zones around schools, houses of worship, and other dispensaries when choosing your location.
A Queue, Not a Contest
The OCM will employ a queuing system instead of a point-based rating, emphasizing the benefit of applying early.
As New York’s cannabis market readies itself for new entrants, understanding these nuances, from reapplying (CAURD) to key deadlines, will be instrumental in positioning your application for success.