The Minnesota Office of Cannabis Management recently commenced a social equity licensing program to boost economic diversity in the blossoming cannabis sector. The roll-out saw over 700 interested parties applying for preapproval of adult-use cannabis business permits on the maiden day itself.
The program’s objective is to provide communities who have faced the harsh brunt of past cannabis laws an equal opportunity in the growing legalized cannabis market. Many were eager to make their dent in the industry, marking a considerable move towards inclusive integration of cannabis businesses in Minnesota.
To build an equitable entrepreneurial environment, the program will prioritize veterans, new farmers, and people impacted by the war on drugs for business licenses. Striving for fair distribution of the licenses, the initiative will enable these individuals and communities to achieve economic sustainability.
Interim Director Charlene Briner appreciated the high rates of applicant interest, signaling the potential for future diversity in the state’s cannabis industry. However, she acknowledged that the license acquisition process is meticulous and time-consuming, requiring immense dedication and commitment.
Social equity focus in Minnesota’s cannabis program
Briner also pledged her department’s complete assistance to help applicants and ensure a fair judgment of all applications.
The comprehensive license scrutiny process will commence on July 24th. It will examine various components such as safety protocols, labor agreements, ownership structure, and business models. Owing to the limitation on available permits, successful applicants will then be entered into a lottery system.
Briner commended the legislative assembly’s efforts to protect social equity licensees from larger entities’ buyouts due to financial constraints. Briner expressed confidence in measures included in recent legislation to support a craft industry model.
Nevertheless, she acknowledged the unclear timeline for converting licenses into businesses and promised further updates after the 12th of August, when the application period ends.
