ALBANY — A coalition of nearly 70 New York state legislators have asked Gov. Kathleen C. Hochul to sign legislation meant to rescue cannabis growers.
The slow pace of development for the New York recreational marijuana industry, especially the slow pace of storefront openings, has left cannabis farmers with thousands of pounds of stockpiled product they grew but cannot sell.
Many farmers and processors have said they are close to or at a failure point, where their business will fail and their personal finances will be severely impacted.
“Very simply, the extended timeline of New York State’s troubles rollout of the licensing and regulations establish a safe, legal market for adult-use cannabis has had a significant negative impact on New York’s licensed cannabis farmers who invested in crops they now have limited places to sell,” the letter from the coalition of legislators reads. “The crop is also losing value by the day. Regulatory delays, lawsuits, and logistical and financing challenges have caused the state to miss its timelines and targets. However, cultivators are the group paying the steepest price.”
Lawmakers in New York’s legislature passed a bill, authored by state Sen. Michelle Hinchey, D-Kingston, chair of the state Senate