"New York Scraps Rule on Assigned Storefronts for Cannabis Retailers"
The change in regulation announced by the New York Office of Cannabis Management allows licensed retailers to base their operations out of locations of their choosing, rather than being required to accept storefronts leased by the state. This decision was made after speaking with the first licensees who expressed a desire for more flexibility with their storefront locations. This shift in rules has been welcomed by applicants who want more control over their retail locations but has been criticized by some industry observers as a sign that state regulators and private investors are failing to fulfill their promises of support for these new businesses.
The state had previously promised turnkey storefronts and start-up loans to license holders in order to get retail sales of cannabis up and running by the end of the year, but these promises have yet to be fulfilled. The slow pace of leasing and fundraising has also threatened to undermine the advantage of a head start for the first batch of licensed retailers. The changes have also put the spotlight on a fund established by the state to cover the cost of leases, renovations and start-up expenses for licensees. So far, only $20 million of the promised $50 million has been put into the fund, and there are questions over the vetting of the private investment firm tasked with raising an additional $150 million.
Overall, the eased storefront requirement is a sign of the challenges faced by the state in implementing its newly legalized recreational cannabis market. Despite efforts to support new businesses and provide access to real estate and financing, the slow progress in leasing and fundraising is hindering the growth of the industry and may threaten its success.
That's where the CannaMarket comes in. Farmers' markets are beneficial to the cannabis community in a number of ways. One, we offer cannabis lovers a safe place to get their cannabis. Also by buying at a farmers market, everyone can purchase cannabis from passionate growers who are more concerned with customer satisfaction than making money. Cannabis farmers' markets also benefit growers by offering them a unique opportunity to connect with like-minded individuals interested in the benefits of cannabis. At farmers' markets, you can talk freely with others about how you use cannabis and why it's important. At farmers' markets, you can also get advice and tips on how to best care for your plants. Will we see you at the next farmers' market? We hope so!