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Cannabis Briefs for December 27, 2022

December 27, 2022

•New York’s first recreational cannabis retail location will open this week, the state’s Office of Cannabis Management announced. The first adult-use cannabis sales will take place at a shop in lower Manhattan operated by Housing Works, an AIDS and homelessness non-profit that also runs thrift shops in New York City. Housing Works’ prime position in the retail rollout is part of the state’s Seeding Opportunity Initiative, which aims to build a healthy cannabis industry that addresses the harms of the war on drugs. “At our core, we’re a healing community dedicated to providing housing, healthcare, and vocational programs for New Yorkers,” said Charles King, CEO of Housing Works. “This opportunity will not only give our team the resources to further our overall mission but to feature and elevate products coming from LGBTQ+, BIPOC, and women-led cannabis brands across the state.”

•Vermont sold $2.6 million of cannabis in October, according to the state’s Department of Taxes. October was the first month of sales in the Green Mountain State; only seven retail locations were open by the end of the month and initial supply was limited, constraining the market’s potential. The state has now approved more than 30 retail licenses, which will significantly increase access and spending as those shops get up and running in the new year. The first month of sales generated nearly $500,000 in state tax revenue.

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