When Illinois legalized recreational marijuana in 2020, state legislators sought to correct the effects of the drug war on Black and Brown communities with “the most equity-centric law in the nation.”
The government did so by issuing special “social equity” cannabis business licenses for people of color so they could reap the profits of the now billion-dollar industry. But even with those licenses, many minority entrepreneurs are struggling to get bank loans to kick start their businesses.
Cook County government took a step toward correcting that disparity by opening applications Thursday for its Cannabis Development Grant program. The county is offering $3.6 million in grants to license holders. Applications, available online, are open through June 14.
County Board President Toni Preckwinkle said grant winners will be announced later this summer.
“Running a small business is very difficult. Starting a social equity cannabis business is even more difficult,” Preckwinkle said at the announcement.
The grants available are based on the type of license: $150,000 for craft growers, $100,000 for infusers, and $75,000 for dispensaries and transporters.
H/T: chicago.suntimes.com
