Keys to a budding market

NEW YORK’S recreational cannabis industry is just starting to get off the ground, with multiple players eyeing how to break in and make money.

The city’s rst state-sanctioned adult-use dispensary opened in December. Meanwhile, smoke shops are popping up on seemingly every corner, and medical marijuana dispensaries are holding on to prime real estate as both await what they hope will be their turn in the licensing process. To get the lay of the land, and to analyze the business challenges ahead, Crain’s turned to sister publication Green Market Report to tap its expertise on the local cannabis business.

For this month’s Crain’s Forum, GMR reporter John Schroyer outlines the holdup in getting more businesses licensed as well as concerns about the tax rates associated with the legal market. Reporter Adam Jackson explains why the existing medical marijuana rms in the state can’t enter the recreational market just yet, and GMR Executive Editor Debra Borchardt goes behind the scenes of the second storefront to open from an equity-focused applicant.

Let us know your thoughts as we continue the conversation at CrainsNewYork.com/ forum.

— Telisha Bryan, managing editor