WASHINGTON (dpa-AFX) - California regulators said the state will provide $30 million in grant funding to support legal cannabis entrepreneurs who are from communities disproportionately impacted by the war on drugs.
The Governor's Office of Business and Economic Development or GO-Biz, in partnership with the Bureau of Cannabis Control, said they will provide the funding through the Cannabis Equity Grants Program for Local Jurisdictions.
The program will provide funding for small-business support services like technical assistance to individuals, reduced licensing fees or waived fees, assistance in recruitment, training, and retention of a qualified and diverse workforce, and business resilience such as emergency preparedness.
At least $23 million of the funding will be directly allocated in the form of low- or no-interest loans or grants to business applicants and licensees specifically identified by local jurisdictions as being from communities most harmed by cannabis prohibition.
To date, jurisdictions seeking to create this regulatory framework represent nearly a quarter of the state's population, according to the regulators.
'These Cannabis Equity Grants reflect California's desire to lead our legalization efforts with equity and inclusivity. We applaud these jurisdictions for not only embracing the challenge of creating pathways to participate in a legitimate cannabis marketplace, but for doing so in a thoughtful way that seeks to uplift all communities,' said Nicole Elliott, Governor Gavin Newsom's Senior Advisor on Cannabis.
Among the different jurisdictions that will receive funds for equity business development, the City of Oakland will receive $6.58 million, while the City of Los Angeles will get $6.04 million, and the City and County of San Francisco will receive approximately $5.00 million.
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