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.
— Cannabis Culture (@CannabisCulture) April 27, 2022
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.