Funding promotes economic justice in communities disproportionately affected by the prohibition of cannabis.

Sacramento (CA) - Today, the Governor's Office of Business and Economic Development, in partnership with the Bureau of Cannabis Control, announced $15 million in grant funding under the Cannabis Equity Grants program for local jurisdictions. This program provides funding to local jurisdictions committed to equity in the legal cannabis market and eliminates any barriers to entry to the regulated cannabis sector. In addition, it aims to improve economic justice for communities and populations that have been disproportionately affected due to cannabis prohibition.

 

Nicole Elliott, Senior Advisor on Cannabis to Governor Newsom, said that "cannabis prohibition and criminalization have had devastating effects on generations of Californians." As we work to safely reopen the economy, leading with equity across every sector will ensure a just recovery as well as further our commitment to creating a legal market that is truly diverse. These efforts are a testament to our values as a nation, and I salute the effort made by these jurisdictions to accept this challenge thoughtfully.

People convicted of cannabis offenses and their families are subject to the long-term effects of prohibition and criminalization. This is partly due to the lack of capital, business space, and technical support. Jurisdictions will use these funds to help their applicants and licensees develop cannabis equity programs. They also provide low/no interest loans or grants, lower licensing fees or waived charges, technical assistance, one-on-one consultation, training, and navigation assistance in complying with the cannabis licensing and regulatory requirements.

"The California Cannabis Equity Grant I received from Oakland was one the most important things that happened to my company. Jessie Grundy is Green Peakz's CEO. "I was able to hire drivers as well as sales representatives." "California investing is crucial to equity work. We are grateful to the GO-Biz team for helping us obtain licenses and investing in successful equity companies.

The minimum $11.5 million in funding will be provided as grants or loans with low/no interest. It will directly go to applicants for cannabis equity and to licensees who have been specifically identified by local jurisdictions to be linked to communities or populations that were adversely or disproportionately affected by cannabis prohibition or criminalization.

Funding from the Local Jurisdiction for Cannabis Equity Applicants/Licensees

 

City of Oakland $2,434,712.51
City and County of San Francisco $2,055,841.43
City of Los Angeles $2,030,997.42
City of Sacramento $1,813,612.38
City of Long Beach $1,267,044.26
City of Fresno $1,204,934.25
County of Humboldt $1,055,870.22
County of Lake $888,173.18
City of Palm Springs $869,540.18
County of Mendocino $832,274.17
Total $14,453,000

Local Jurisdiction Funding for Cannabis Equity Assessment/Program Development

County of San Diego $75,000
County of Sonoma $75,000
County of Trinity $75,000
City of Escondido $75,000
City of Isleton $22,000
City of Modesto $75,000
City of Richmond $75,000
City of San Diego $75,000
Total

$547,000

 

Today's announcement builds on the $40 million in equity funding for cannabis that the State of California has already provided. For more information about the program, please click here.