New York regulators have issued a wide-ranging report on the state’s cannabis industry, which is finally showing signs of growth nearly two years after the launch of adult-use sales.
The Marihuana Regulation and Taxation Act (MRTA) Implementation Report, released Thursday by New York’s Office of Cannabis Management (OCM), highlights various milestones since March 2021, when the legislation legalized the production, distribution and adult use of marijuana in the state.
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The 102-page report details fiscal and economic impacts of the industry, licensing, enforcement of unlicensed operators and several other key metrics in the potential billion-dollar market.
Regulators to date have issued 1,342 adult-use cannabis licenses, with nearly 55% awarded to Social and Economic Equity (SEE)-eligible applicants, surpassing the MRTA’s 50% target.
According to the
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