US (MI): New Joint Ventures program aims to solve lack of equity in cannabis industry in Michigan

Michigan has created a program to help those participating in the state's cannabis industry social equity program reach their goals.

The state's Marijuana Regulatory Agency on Tuesday unveiled the Joint Ventures Pathway Program. It's part of the existing social equity framework — aimed at helping those impacted by marijuana laws get into the business — that the state made when it legalized recreational cannabis. This new strategy aims to fill huge gaps in ownership for people of color in Michigan.

The program was made to connect those eligible for social equity benefits with other existing or potential recreational licensees. That could mean creating a business partnership, as well as mentorship, employment and incubator programs.

This new strategy, an update to the social equity policies, was created based on input from the agency's Racial Equity Advisory Workgroup. The working group was formed after "it became clear that the broad language of the statute was not enough to address the specific issue of racial inequities within the commercial industry," the MRA said in a news release.

Read more at crainsdetroit.com


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