News

Colorado Reviews New Social Equity Marijuana Business Licenses

The new licenses are intended to add more diversity

New marijuana business licenses reserved for low-income demographics are set to launch in Colorado in 2020, but questions remain about who should receive these licenses and how they should be regulated.

Created by Senate Bill 224, a 2019 law that overhauls the state’s medical and recreational marijuana regulations, the new licenses are intended to add more diversity to Colorado’s cannabis space while providing opportunity to entrepreneurs who don’t have traditional training or funding outlets. Also known as micro licenses, the new permits would require the new businesses to use the facilities of established pot companies as they research and create their own cannabis products.

Colorado cannabis regulators and industry members began addressing the upcoming accelerator licenses during a state Marijuana Enforcement Division stakeholder meeting Friday, September 13. But instead of the usual roundtable discussion, the group of cannabis organization leaders, business owners and regulators broke into working groups to discuss issues such as how long the agreements should last between the accelerator and endorsing businesses, how the state could incentivize potential endorsers, and what criteria should qualify the new licensees.

To Read The Rest Of This Article On Westword, Click Here

Stay up-to-date!

Get all the news and info straight into your inbox that you need to help grow your business.

To Top