Colorado Meets Marijuana Industry Diversity Goal Ahead Of Schedule
Nearly 17% of the state’s cannabis businesses are now minority-owned
Colorado officials announced on Monday that the state has achieved a “wildly important goal” of increasing diversity in the legal marijuana industry—but the data shows there’s still a way to go before cannabis business ownership is on par with the state’s population demographics.
Nearly 17 percent of the state’s cannabis businesses are now minority-owned as of January 1, the Marijuana Enforcement Division (MED) reported. Colorado had set a goal of at least 16.8 percent minority ownership in the cannabis sector by June 30, 2022, and that’s already been narrowly exceeded by the beginning of the year.
When data on licensee demographics started to be collected in July 2021, there was 15.2 percent minority ownership in the marijuana market. Now it’s up to 16.8 percent.
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