Gov. Kathy Hochul marked the upcoming five-year anniversary of the passage of the Marihuana Regulation and Taxation Act, which legalized adult-use cannabis, established the Office of Cannabis Management, and laid the foundation for a regulated, equity-driven cannabis industry in New York.
Since the launch of adult-use sales, New York's cannabis market has generated $3.3 billion in total retail sales and expanded to more than 600 licensed dispensaries statewide, with Pure Blossom on Manhattan's Upper West Side recognized as the State's 600th licensed retail location.
"Five years ago, New York committed to building a cannabis market rooted in equity, safety, and opportunity and today, that commitment is delivering real results," Gov. Hochul said. "We are creating new pathways for small businesses while aggressively shutting down illicit shops that threaten public safety and undermine our legal market. Our focus is clear: protect consumers, support legal businesses, and ensure this industry grows the right way."
New York State Office of Cannabis Management Acting Executive Director John Kagia said, "New York's cannabis market is demonstrating that growth and equity are not mutually exclusive. With more than $3 billion in sales, a majority of licenses held by Social and Economic Equity applicants, and a rapidly expanding retail footprint, the State is building a market that is both economically viable and intentionally inclusive.
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