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* From Wednesday…
Today, Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) announced the recipients of $5.5 million in loans through Round II of the Cannabis Social Equity Loan Program. Through the program, 23 qualified, licensed social equity dispensaries are receiving $240,000 Direct Forgivable Loans (DFL) financed by the State of Illinois.
“Since day one, my administration has put equity at the forefront of building the most accessible cannabis industry in the nation,” said Governor JB Pritzker. “With the Cannabis Social Equity Loan Program, we’re giving social equity licensees the resources they need to grow their businesses - righting decades of injustice while providing opportunities for economic success in our state’s historically disinvested communities.”
After providing approximately $22 million through Round I of the Cannabis Social Equity Loan Program to craft growers, infusers, and transporters, DCEO opened Round II for adult-use dispensaries. Loan recipients are social equity Conditional and Adult Use Dispensing Organizations licensed by the Illinois Department of Finance and Professional Regulation (IDFPR). This round of funding was open to dispensaries who received licenses prior to the July 2023 dispensary license lottery. […]
“Social equity dispensaries have a real opportunity to succeed in our state by benefitting from this Direct Forgivable Loan program,” said Senate Majority Leader Kimberly A. Lightford (D-Chicago). “The State of Illinois is committed to reducing barriers to entry into the cannabis industry and supporting communities that have historically suffered from disinvestment.”
“Illinois is paving the way by prioritizing equity through its cannabis industry loan programs,” said Representative La Shawn Ford (D-Chicago). “The latest round of the Cannabis Social Equity Loan Program is providing critical support to social equity dispensaries across Illinois.”
* Today from Rep. Harper…
State Rep. Sonya Harper, D-Chicago, issued the following statement after Gov. J.B. Pritzker, alongside the Department of Commerce and Economic Opportunity, awarded $5.5 million in Direct Forgivable Loans (DFL) to 23 licensed social equity dispensaries as part of the ongoing Cannabis Social Equity Loan Program.
“Opportunity has been a long time coming for cannabis social equity license holders throughout Illinois. Though I am pleased to see the state following through on its word to assist social equity license holders—who have been waiting for this help—we still have a long way to go in ensuring true social and economic equity in the medical, recreational and hemp industries.
“Ensuring that communities devastated for generations by the failed war on drugs can now be full partners and beneficiaries in the vibrant and expanding cannabis and hemp industry is crucial, and failure to do so would undermine one of the chief benefits for which advocates and stakeholders have fought and sacrificed.
“For example, my district is still waiting to see licenses, dispensaries as well as already-approved grant money from programs which are fueled by cannabis tax revenue.
“Passing the Cannabis Regulation and Tax Act and ensuring that it included measures to promote an equitable implementation required many days and weeks of tireless work by advocates, stakeholders and by my colleagues and I. That’s why I look forward to continued work with my colleagues in the General Assembly to ensure the state keeps its promises to these communities when it comes to equity in the cannabis industry and in the agriculture industry overall.”
posted by Rich Miller
Friday, Aug 16, 24 @ 11:17 am
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The evolution of American politics: from a “chicken in every pot” to “pot for every district.”
Comment by Norseman Friday, Aug 16, 24 @ 11:38 am
If the state wanted to remove barriers to the industry couldn’t they just add more licenses? Having a lottery still prevented many would be business owners from having a chance to make it in this industry.
Comment by Jazz Cabbage Aficionado Friday, Aug 16, 24 @ 11:39 am
=couldn’t they just add more licenses?=
Yes, but take a look at Michigan and how that has gone. Prices are much lower which is great for the potheads (lovingly stated by the way) but some of the growers and sellers are struggling. I think Illinois has done a decent job with how they have added licences. Not perfect, but reasonably good.
Comment by JS Mill Friday, Aug 16, 24 @ 11:45 am
=== Yes, but take a look at Michigan and how that has gone. ===
It has gone great for consumers. You can buy so much more for so much less.
Comment by Barrister's Lectern Friday, Aug 16, 24 @ 11:53 am
Tell her to complain to the former Dep Gov. this was his plan.
Comment by NotRich Friday, Aug 16, 24 @ 12:04 pm
Other cannabis retail-generated grant program dollars are allocated based on Census data showing rates of poverty, violence, and transfers into and out of IDOC. Eligible areas are labeled by zip code. Check out the R3 eligibility map.
Comment by Politix Friday, Aug 16, 24 @ 12:43 pm