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ADULT-USE CANNABIS LEGALIZED IN NEW YORK STATE

ADULT-USE CANNABIS LEGALIZED IN NEW YORK STATE

Recent legislation has made New York the 15th state to legalize adult-use marijuana. Governor Cuomo has established the Office of Cannabis Management; expanded New York's existing medical marijuana program; established a licensing system; and created a social and economic equity program as a part of this legislation.

The development of the industry in New York State under this legislation could potentially create significant economic opportunities for New York residents and the State. Tax collections from the adult-use cannabis program are projected to reach $350 million annually. Additionally, this could create 30,000 to 60,000 new jobs across the State.

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