Gov. Kathy Hochul came to Manhattan Tuesday morning to declare a reboot for New York's rocky retail cannabis industry — even as frustrated applicants for retail licenses protested in front of her office over the state's broken promises to let them launch their businesses.
At John Jay College on Midtown's west side, Hochul told the crowd: "New York State is rapidly building the most expansive, equitable cannabis market in the nation. One that uplifts Black and brown New Yorkers who have been victimized by the war on drugs."
She announced that in the first month of enforcement enabled by a new state law, authorities had padlocked 114 unlicensed stores and seized $30 million in products, adding that the state aims to close the majority of unlicensed shops within 90 days. Sales at legal cannabis shops are up 27% in the month, she said. "It's a new era for the cannabis industry right here in the State of New York," Hochul said.
Meanwhile, a crowd of several dozen protesters gathered outside of Hochul's Midtown East city office, bearing handouts that read "Hoodwinked by Hochul" and a link to THE CITY's investigative report showing that the Hochul administration launched a high-interest "social equity" loan program for startups despite objections from staff at her own Office of Cannabis Management. "People said the loans that they were pushing out were predatory. They said they were a problem. Hochul did nothing," Public Advocate Jumaane Williams told the rally.
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