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Governor trumpets $30 million in grant funding

Entrepreneurs in California’s legal cannabis industry disproportionately impacted by cannabis criminalization, will benefit from $6 million in funding from the Office of Business and Economic Development, in partnership with the Bureau of Cannabis Control. Cannabis equity

Entrepreneurs in California’s legal cannabis industry disproportionately impacted by cannabis criminalization, will benefit from $6 million in funding from the Office of Business and Economic Development, in partnership with the Bureau of Cannabis Control.

Cannabis equity programs awarded millions in grant funding by State

INGLEWOOD (MNS) – Los Angeles will receive upwards of $6 million in funding from the Office of Business and Economic Development (GO-Biz) , in partnership with the Bureau of Cannabis Control, to support individuals in California’s legal cannabis marketplace who are from communities negatively or disproportionately impacted by cannabis criminalization.

On April 21, Gov. Gavin Newsom announced $30 million in grant funding through the Cannabis Equity Grants Program for Local Jurisdictions.

Sen. Steven Bradford, D-Gardena, authored the California Cannabis Equity Act (SB 1294), the catalyst for the funding, which was designed to assist equity applicants and licensees by providing professional job training, aid with technical and regulatory compliance, and assistance inobtaining loans and securing capital investments.

“California has always been a national leader on many issues by including people of color, those with diverse backgrounds and individuals who have been most impacted by marijuana criminalization, we will continue to be at the forefront” said Bradford. “I look forward to continuing my work to not only help reverse the damaging impact of the war on drugs, but also the general implicit racial bias that exists within all sectors of our economy.”

The City of Los Angeles is one of a dozen jurisdictions throughout the state that was awarded grants to assist with funding their local social equity programs. The City plans to use the funds to provide verified Social Equity Program Applicants various resources such as Workforce Development and Business Development Services. Specific information on how the city will funds awarded through grant programs will be available July 1, 2020.

Under Gov. Newsom’s stay-at-home order, California’s cannabis industry was designated as an essential business, allowing legal cannabis retailers to continue serving the public responsibly.

Metropolis News Service.

 

 

 

 

 

 

Compton Herald is a digital news publication providing clear, fair and current news, information and commentary about Compton, the Los Angeles metropolitan area, Los Angeles County, California, and the world.

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