New York plans a $200 million fund to support the social equity goal of the cannabis industry

New York's new governor Kathy hochul plans to set up a $200 million public-private fund to support the state's ambitious social equity goals and achieve its entertainment marijuana industry, which is expected to be worth billions of dollars. According to the document, the $200 million fund will support social equity applicants to "plan and develop their business". "License fees and taxes will seed the fund and leverage substantial private investment," said the state's social equity program, which targets individuals from affected communities, minority and female owned businesses, troubled farmers and disabled veterans.

Source: mjbizdaily com