On ABC7’s Here & Now, a panel of black-owned cannabis NY leaders explored how legalization can translate into real opportunity—not just paperwork. CANY’s Nicole N’diaye joined dispensary owner Ted Crawford to spotlight the hurdles Black entrepreneurs still face and the policies that can change the game.
Watch the full ABC7 segment → https://abc7ny.com/post/here-now-sandra-bookman-black-owned-businesses-new-york-states-growing-cannabis-industry/15837473/
Key takeaways for black-owned cannabis in NY
- Capital access remains tight. Most traditional lenders refuse cannabis borrowers, so equity entrepreneurs rely on friends-and-family funding or small state grants.
- License equity goal: 50 %. N’diaye noted that New York’s law sets an ambitious target, but approvals lag behind the promise.
- Representation matters on Day 1. “Seeing Black ownership from the start shows communities this market was built for them,” Crawford said.
- Education + enforcement go hand in hand. Panelists urged the state to pair business-development support with crack-downs on illicit storefronts that siphon revenue from legal shops.
Why Black cannabis entrepreneurs in New York matter
Black New Yorkers were historically 3.64 × more likely to be arrested for cannabis possession. Giving Black farmers, processors and retailers a fair shot is central to the social-equity mission baked into the MRTA. As Crawford put it:
“True equity isn’t a talking point; it’s a balance sheet.”
Ensuring black-owned cannabis NY businesses survive also strengthens local economies: every $1 spent at a licensed shop generates an estimated $1.50 in ancillary spending on jobs, supplies and taxes.
Next steps for policymakers
- Expand the Cannabis Development Fund to provide non-dilutive grants, not high-interest loans.
- Streamline local approvals so municipalities can’t stall equity applicants behind red tape.
- Boost marketing support for small brands—much like New York promotes its craft-brewery sector.
Related reading
CANY’s 2025 policy platform