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CNY Business Support for Local Cannabis Sales Local Businesses Plan for Legal Cannabis Sales

By Braden Reed

NY Exotic and Smokes
© 2022 Braden Reed

Ben Spector: Cannabis is nearing legal sale here in New York. NCC News’ Braden Reed is live from Marshall Street with more. Braden?

Braden Reed: Ben, thanks so much. I’m here outside of New York Exotic and Smokes, a recently opened convenience store in Syracuse. This store is one of many that could benefit from the news that legal cannabis in New York could hit shelves as early as this fall, according to the Cannabis Control Board in New York. Store employee Moe Alsaidi says he thinks the legal sale would be a plus in CNY.

Moe Alsaidi: In this area, it would do good, it would do really good. It would be safer for students too.

Reed: Steep licensing fees could deter some store owners though. Alsaidi added those could cost as much as a quarter of a million dollars, but the board has a solution for that too. License holders will be eligible to receive loans with interest, which will come from a $200 million equity fund. Alsaidi says that that kind of support could be enough to convince him to stock his shelves.

Alsaidi: If I get funded or get anything where it helps out, I don’t mind doing it, as long as I’m doing it the right way.

Reed: Braden Reed, NCC News.

SYRACUSE, N.Y. (NCC News) – Legal cannabis sales by licensed dispensaries in New York may take effect as early as this fall according to Syracuse.com. Tremaine Wright, the Cannabis Control Board Chair, made the announcement at a public forum hosted by the Central Harlem Community board this past Saturday.

The Cannabis Control Board approved initial regulations for conditional retail licenses last month, with Office of Cannabis Management Director Chris Alexander saying in an interview that some products will be ready to be harvested by as early as the fall months. Alexander added that there will be conditional growers and online dispensaries, so there’ll be a full supply chain and an active market.

There already are a handful of smoke shops in the Syracuse area, including Smokwind Inc. on Westcott Street, and NY Exotic and Smokes, which recently opened on Marshall Street.

Both could benefit from the news that legal cannabis in New York could hit shelves as early as this fall. NY Exotic and Smokes employee Moe Alsaidi said he thinks the legal sale would be a plus in CNY.

“In this area, it would do good, it would do really good,” Alsaidi said, “It would be safer for students too.”

Steep licensing fees could deter some store owners though. Alsaidi added those could cost as much as a quarter of a million dollars, but the board has a solution for that too. License holders will be eligible to receive loans with interest, which will come from a $200 million equity fund.

Wright said Saturday said that the goal would be to add a program that provides grants or loans with zero interest, and Alsaidi said that kind of support could be enough to convince him to stock his shelves.

“If I get funded or get anything where it helps out, I don’t mind doing it, as long as I’m doing it the right way,” Alsaidi said.

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