The Healey-Driscoll administration has awarded 50 grants to cannabis social equity businesses in 28 communities, totaling $2,350,000, through the Cannabis Social Equity Trust Fund (CSETF). These awards follow Governor Healey's recent pardon of cannabis possession and misdemeanor offenses as part of the administration's efforts to advance equity and justice in Massachusetts.
The Cannabis Social Equity Trust Fund was established to provide financial assistance to eligible applicants for the purpose of encouraging the full participation in the state's regulated cannabis industry of entrepreneurs from communities that have been disproportionately harmed by cannabis prohibition and enforcement. The Immediate Needs Grant Program was launched in January as the first grant program to offer financial assistance from the Trust Fund to support eligible cannabis social equity license holders with urgent financial needs.
"Our administration is committed to righting historic wrongs from the War on Drugs, both by addressing inequities in the criminal justice system and by advancing equity in the cannabis industry. With the Cannabis Social Equity Trust Fund, we're creating a sustainable and inclusive path to the industry for Massachusetts entrepreneurs that have faced barriers to entry," said Governor Maura Healey. "This funding will fill critical gaps necessary to allow social equity businesses to grow and succeed here in Massachusetts."
"Cannabis prohibition and enforcement has historically disadvantaged those living in communities of color. With the Cannabis Social Equity Trust Fund, we are rewriting this narrative and providing a secure path for aspiring social equity cannabis entrepreneurs to succeed," said Lieutenant Governor Driscoll.
"The Immediate Needs Grant Program exemplifies our commitment to advancing equity within the cannabis industry in Massachusetts," said Secretary of Economic Development Yvonne Hao. "This inaugural round of funding will not only boost our economy in new ways but also reaffirms that our state is the best place for business."
The Cannabis Social Equity Trust Fund was established by Section 14A of Chapter 94G of the General Laws. The legislation also established the Cannabis Social Equity Advisory Board, to work with and advise EOED on the administration of the Trust Fund.
"I am proud to join the Healey-Driscoll administration to celebrate the inaugural round of awardees from the Cannabis Social Equity Trust Fund," said State Senator Gomez, Senate Chair of the Legislature's Cannabis Policy Committee. "Given the precedent set by prohibition era measures, commonly known as the War of Drugs, this financial assistance is only the beginning of sound legislation to address the dire need many cannabis dispensaries have vocalized. I look forward to advocating alongside my colleagues in the legislature for additional funding for entrepreneurs and communities in the Hampden district and across the Commonwealth."
"The Social Equity Trust Fund is the product of tireless effort from many advocates, stakeholders, and my colleagues in the legislature to better ensure equitable access to the Cannabis industry. I would like to thank Speaker Mariano for his leadership and commitment to advancing this social equity fund last session," said Representative Dan Donahue, House Chair of the Legislature's Cannabis Policy Committee. "Thank you as well to the Social Equity Trust Fund board for their work in advising the administration on the program and their continuing efforts to address the wrongs of the War on Drugs with this access to capital."
Source: mass.gov