This week, the Governor’s Office of Business and Economic Development (GO-Biz) announced $35 million in grant funding through the Cannabis Equity Grants Program for Local Jurisdictions.
The purpose of the program is to advance economic justice for populations and communities harmed by cannabis prohibition by providing support to local jurisdictions as they promote equity and eliminate barriers to entry in the regulated cannabis industry for their equity program applicants and licensees. Jurisdictions will use this funding to develop their cannabis equity programs and assist their equity program applicants and licensees by providing low/no-interest loans or grants, reduced licensing fees or waived fees, and technical assistance, including one-on-one consulting and training, and navigation assistance with cannabis licensing and regulatory requirements.
Over $29.5 million of the funding, in the form of low/no-interest loans or grants, will be allocated to cannabis equity applicants and licensees specifically identified by local jurisdictions as being linked to populations or communities that were negatively or disproportionately impacted by cannabis criminalization.
“Cannabis Equity Grants will help level the playing field for those that have borne the brunt of past federal and state anti-drug policies while striving to make California’s Cannabis Industry more equitable and accessible to those individuals,” said the Governor’s Chief Economic and Business Advisor and Director of GO-Biz Dee Dee Myers. “These awards bring the state’s commitment to local equity programs to $90m since the program launched.”
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and more. For more information visit, www.business.ca.gov.