Licensed cannabis dispensaries in New York have sold more than $1 billion worth of cannabis products since the state’s adult-use program launched in 2022, according to the Office of Cannabis Management’s (OCM) annual industry report.
The state has issued or provisionally approved over 5,250 licenses, permits, and registrations since the program launched, including 221 adult-use cultivator licenses, 292 adult-use processor licenses, 569 conditional adult-use retailer licenses, 448 adult-use retail licenses, 569 conditional adult-use retail licenses, 185 distributor licenses, and 272 adult-use microbusiness licenses. Officials have also recognized 17 registered trade organizations, and awarded more than 3,200 cannabinoid hemp licenses and permits.
OCM’s acting executive director Felicia A. B. Reid called the $1 billion adult-use sales milestone “a testament to the resilience, hard work, and innovation of cannabis entrepreneurs across New York,” and said the moment “underscores the strength of consumer demand for regulated cannabis” and “firmly demonstrates that a social and economic equity approach to industry is not antithetical to strong economic growth.”
“New York’s cannabis industry was designed with a focus on equity and opportunity, and this achievement is proof that our approach is working. By prioritizing Social and Economic Equity applicants, we’re creating a market that uplifts communities