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Last month, New York’s Cannabis Control Board voted to award 109 adult-use cannabis business licenses, a milestone that includes 38 more retailers and the first 26 micro businesses in the state. These licensees are just the beginning, as New York has nearly tripled the number of cannabis retailers operating in the last two months alone – with many more on the way.
“It’s always an exciting moment when new cannabis business licenses are awarded, but it is especially thrilling in a market with as much potential for growth as New York,” said Adam Hutchinson, Founder of CannaSpyglass. “Our team has been diligently collecting data on these new operators, and we are eager to share these valuable insights with the cannabis industry.”
Since the first adult-use dispensary opened in New York, the state has recorded over $183 million in sales, with December alone setting a record of $27 million. The steady increase in cannabis sales each month reflects the growing momentum within New York's cannabis market and signals its promising potential for future success!
Who Are The Winners?
The recently awarded cannabis business licenses in New York are the first non-conditional adult-use cannabis licenses to be issued by the state from the application round, which opened on October 4, 2023. Retail and micro businesses are licensees who applied prior to the November 17 deadline and hold property.
Awarded licenses include:
- 26 microbusiness licenses
- 25 retail licenses
- 24 cultivation licenses
- 14 provisional retail licenses
- 12 processor licenses
- 9 distribution licenses
It is significant to note that of the issued licenses, two-thirds (66 percent) were awarded to social and economic equity (SEE)- owned businesses, one-third (35 percent) were awarded to women-owned businesses, and another third (32 percent) were awarded to minority-owned businesses. Additionally, 10 percent of these licenses were awarded to minority-women-owned businesses.
While there is no set timeline for when these new licenses will open for business, there are already 70 operational adult-use cannabis retailers in New York across 29 municipalities. At least 25 more CAURD dispensaries are also expected to open within the coming weeks once operators complete the final steps required to begin cannabis sales. The state is expected to issue additional licenses over the next few months on a rolling basis.
Want to Talk to Cannabis Businesses in New York?
Tracking down accurate license holder information for cannabis businesses can be challenging. While some information is published online by the state, finding, organizing, and properly evaluating license holder data can be difficult and time-consuming.
Enter CannaSpyglass. With comprehensive data on all licensed cannabis operators in New York, we provide the solution you need to easily connect with these new licensees. From contact details of key decision makers to valuable insights into an operator’s positioning within the market, CannaSpyglass equips you with the essential tools for success in the cannabis industry.
Why CannaSpyglass?
CannaSpyglass offers cannabis data subscription services that provide dependable, on-demand, and exclusive industry analytics. Our insights cover vital data on cannabis cultivation, business statistics, and enterprise information within the rapidly growing cannabis sector. Whether you are an established industry leader seeking business expansion or a lawmaker requiring essential research to inform policy, our up-to-date, cloud-based data can be tailored to your specific interests and regions.
