Governor Wes Moore announced a new round of funding through the Maryland Department of Commerce's Cannabis Business Assistance Fund.
This marks the fourth financing round aimed at bolstering small businesses and entrepreneurs in Maryland's adult-use cannabis industry.
"Our administration is proud to support this next round of Cannabis Business Assistance grant funding, which builds on our progress of diversifying the cannabis industry in Maryland," said Gov. Moore. "When we enhance equity and economic growth across our business community, we see returns that impact our entire state."
The grant funding will be available to new social equity cannabis business licensees, selected through the Maryland Cannabis Administration's lottery system last year. More than 200 applicants were chosen across various categories, including micro and standard growers, processors, and dispensaries. Maryland was the first state to exclusively open a cannabis licensing round for qualifying social equity applicants in all license types.
Read more at Fox Baltimore