MJBizMag April 2021 - 26

IndustryDevelopments | International & State
Arizona
Nearly 400 hopeful cannabis entrepreneurs ponied up $25,000 apiece for an
opportunity at an upcoming business license lottery, which will determine the
winners of 13 new permits. The state Department of Health Services received 377
competing applications for the 13 vertically integrated licenses. The permits will
be available only in eight rural counties: Apache, Cochise, Gila, Graham, Greenlee,
La Paz, Santa Cruz and Yuma. It's unclear when the licenses will be awarded, but
the lottery for Cochise, Graham and Yuma counties might happen in April. Industry
officials estimate the rural-area licenses will be worth at least $5 million.
California
California is handing out $15 million in grant money to 10 cities and counties that
have adopted social equity programs to help get minorities and those harmed by the
war on drugs involved in the legal marijuana market. The new allotment, awarded
by Gov. Gavin Newsom's Office of Business and Economic Development and the
state Bureau of Cannabis Control, builds on the $40 million previously awarded for
the same cause. A minimum of $11.5 million of the funds will go straight to social
equity entrepreneurs in the form of loans or grants, according to a news release.
26 Marijuana Business Magazine | April 2021

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MJBizMag April 2021

Table of Contents for the Digital Edition of MJBizMag April 2021

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