News | 10.06.2022

Business Of Cannabis Gathers Industry Leaders For Second Annual New York Conference

The conference will focus on social equity, policy, retail, and making New York the most successful cannabis market in the U.S.

Business of Cannabis will gather over 400 policymakers, industry leaders, pioneers, and investors for its second annual Business of Cannabis: New York conference.

Business of Cannabis launched in 2017 to bring together companies, brands, movers, and shakers from the North American cannabis industry. The company is powered by Prohibition Partners and seeks to elevate the industry through 30 years of experience with:

  • Public and strategic communications
  • Content
  • Campaign creations
  • Insight
  • Relationships
  • Sector expertise

Now, Business of Cannabis will gather esteemed cannabis industry players for its one-day conference event at the New York Academy of Medicine on November 3.

The event will occur around the same time that New York’s Office of Cannabis Management will begin distributing licenses for cannabis retail shops. However, many bureaucratic delays and other hiccups have paused New York’s cannabis space from taking off, even 18 months after the state legalized adult use.

Photo by Business of Cannabis

Even more frustrating is how New York’s Marijuana Regulation and Taxation Act is said to be one of the strongest, most equitable, and fair cannabis landscapes in the United States. But it still hasn’t taken action. Below are just a few of the key takeaways from New York’s equitable cannabis bill:

  • Reinvesting 40% of tax revenue from adult-use sales into underserved communities most impacted by the failed War on Drugs.
  • Automatically expunges or resentences people with past cannabis convictions that are no longer a criminal act.
  • Giving 50% of adult-use cannabis licenses to social equity applicants like BIPOC, women, and veterans.

While we wait for New York’s adult-use retail cannabis scene to launch, the Business of Cannabis: New York conference will discuss how the state will remain a model for equitable legalization while touching on how it can make improvements in all categories.

The conference will focus on social equity, policy, and retail, with detailed sessions including:

  • How effective Governor Hochul’s $200M social equity fund has been
  • The license application process of New York’s Cannabis Control Board
  • The trends, habits, and preferences of modern cannabis consumers
  • Protecting consumers by creating an ethical and socially responsible cannabis industry
  • How technology and innovation will shape how cannabis companies do business
  • What’s in store for New York’s medical cannabis program
  • How New Jersey’s adult-use market might impact New York’s

Stephen Murphy, Co-Founder of Prohibition Partners, explained how this year’s “Business of Cannabis: New York is designed to challenge leaders on the best route forward whilst educating, connecting, and motivating delegates to shape the future of New York’s cannabis industry.”

“We’re approaching an important election season that will significantly impact the cannabis industry. I look forward to engaging with key industry stakeholders to discuss the future of New York’s promising market and the significant impact it will have both in the U.S. and around the world,” Murphy added.

Chairwoman of the New York State Cannabis Control Board, Tremaine Wright, stated, “For decades, an unjust cannabis prohibition depleted this country of opportunity and denied communities access to resources.”

“Now in New York, we’re striving to course correct. We have set our sights on demonstrating how an equity-driven market reinvests in all communities creating the most inclusive cannabis industry possible. I’m excited to update attendees at Business of Cannabis: New York on our efforts in the Empire State to build a cannabis market that works for all New Yorkers,” Wright concluded.

The conference will take place on November 3 at the New York Academy of Medicine, 1216 5th Ave, New York. For tickets and additional information about Business of Cannabis: New York, please visit cannabisnewyork.live.

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