New York Releases Annual Marijuana Equity Report: Over $1 Billion in Sales, 54% of Licenses Issued to Social Equity Applicants

According to a press release sent today, this report details the transformative work accomplished thus far and offers a look ahead at the ambitious goals for 2025.

Key updates include:

To date, 54% of adult-use licenses have been awarded to SEE applicants, including 38% to minority-owned businesses, 36% to women-owned businesses, and 81% to SEE-owned dispensaries. These figures highlight New York’s dedication to fostering a diverse, inclusive cannabis industry that supports underrepresented communities.

This year has been a testament to the OCM’s dedication and intentionality. Through thoughtful research, ideation, and problem-solving, the OCM has been able to overcome challenges and advance the mission of economic equity in cannabis. The work detailed in this report underscores the diligence and effectiveness that is a hallmark of the agency.

“We have created one of the most comprehensive and successful equity programs in the nation,” said Tabatha Robinson, OCM Acting Chief Equity Officer. “We’ve not only exceeded our statutory goal for social and economic equity licensure, but we’ve also created a diverse supply chain that reflects New York’s rich racial, ethnic, gender, and geographic diversity. Additionally, New York’s cannabis market has officially surpassed $1 billion in sales revenue, with over 90% of retailers entering the market through an equity program.”

This remarkable success highlights the efficacy of New York’s approach to cannabis equity, which has empowered a new generation of cannabis entrepreneurs from historically marginalized communities. Looking forward, the OCM remains committed to expanding on these successes in 2025, with a range of additional projects and initiatives that will continue to shape and strengthen the state’s cannabis industry.

It has been an honor to build New York’s social and economic equity program alongside the cannabis community,” said Felicia A.B. Reid, Acting Director of the Office of Cannabis Management. “There is a commitment to our shared vision for a diverse and dynamic cannabis market, and it is inspiring. Together, we’ve proven that economic growth and social equity are not mutually exclusive – in fact, they are necessary partners.”

To learn more about the Social and Economic Equity Team and the CEO Annual Report, visit here.

The New York State Office of Cannabis Management (OCM) oversees the regulation of New York’s cannabis industry, ensuring the establishment of a safe, equitable, and well-regulated market. With a strong focus on social and economic equity, OCM supports communities historically impacted by cannabis prohibition through targeted initiatives, licensing opportunities, and technical assistance programs. The agency remains dedicated to fostering an inclusive and thriving cannabis industry that reflects New York’s diversity while advancing public health and safety. For more information, visit cannabis.ny.gov.