Latest news with #CannabisOpportunityReinvestmentandEquity
Yahoo
25-04-2025
- Business
- Yahoo
City of Sacramento adds more dispensary permits
( — The City of Sacramento announced that three storefront dispensary permits were added after a unanimous city council vote, bringing the total to 43. Video Above: How often are marijuana cases federally prosecuted? The permits aim to benefit participants in the Cannabis Opportunity Reinvestment and Equity program, along with advancing equity in the city's cannabis industry. The new changes include: A one-year timeline extension to establish a dispensary for three existing CORE permits. Three approved permit reservations for CORE applicants, bringing the total to 14. A five-year extension for the eligibility window for new CORE storefront permits. The approval comes as storefront dispensary permits were previously capped at 40 by the city, with 29 being for non-CORE and 11 for CORE majority-owned businesses, officials said. While the program offers business training, only a handful have been able to enter the storefront market. Cal Expo water park reopening delayed to 2027 to build 'whole new park' 'Expanding the number of permits reserved for CORE participants creates more equitable opportunities for those who have historically faced barriers in the cannabis industry,' said Al Romero-Gibu, who leads the City's Office of Cannabis Management. The next eligible applicants on the list will be offered the additional permits, officials said. City officials said there is a 4% business tax that all cannabis businesses in Sacramento are required to pay. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
20-03-2025
- Business
- Yahoo
City receives millions in state funding for equity in cannabis industry
( — The City of Sacramento announced they were awarded $1.68 million in the Cannabis Equity Grant to increase equity in its local cannabis industry. The Governors office said the grant program seeks to, 'advance economic justice for individuals most harmed by cannabis criminalization and poverty.' Video Above: How much do states make from marijuana tax Through the grant, equity program applicants and licensees will gain support in local jurisdictions, equity promotions and the elimination of barriers when entering the newly regulated cannabis industry, according to the Governors office. 'This grant provides valuable support for CORE members, offering funding for business operations and technical assistance,' said Lindsay Brown, administrative officer in the City's Office of Cannabis Management. 'These resources play a key role in helping program participants establish and grow their business.' Nevada County's Shoulder Tap operation highlights the risks of underage drinking Sacramento was the fourth highest allocation to receive funding from the $15 million program, behind Oakland, San Francisco and Los Angeles. Sacramento was previously awarded this funding, which it has used to support members of its Cannabis Opportunity Reinvestment and Equity program. 'This grant provides valuable support for CORE members, offering funding for business operations and technical assistance,' said Lindsay Brown, administrative officer in the City's Office of Cannabis Management. 'These resources play a key role in helping program participants establish and grow their business.' The assistance will include guidance on legal matters, cannabis regulatory compliance, accounting and taxes, construction and architecture, security, marketing and branding, human relations and labor issues, as well as commercial real estate consultation. For more information about the CORE program, visit Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
