Calling all cannabis industry members: have your voice heard during an interactive workshop in Albany on May 18

NY Cannabis Insider is hosting an industry summit at The Desmond Hotel in Albany, N.Y. on May 18 from 9:00 a.m. to 6:00 p.m. Details and tickets available here.

The conference will be the state’s first cannabis “summit” of 2023, where industry professionals – from growers, processors and retailers to attorneys, consultants and politicians – will gather for a day of venting, problem-solving, and learning. The event will feature traditional breakout panels on industry hot topics alongside an open forum dedicated to discussing specific challenges faced followed by proposing ideas and solutions. NY Cannabis Insider will report on the issues brought to light and solutions discussed over the next several months.

Industry challenges that we’ll be discussing during the interactive workshop include:

· Not enough legal recreational cannabis dispensaries open across the state: This means farmers and processors have nowhere to sell their crop; ancillary service providers (accountants, attorneys, real estate agents, etc.) have no businesses to service; and the illicit market continues to thrive and outperform the legal industry.

· $0 raised for the Conditional Adult-Use Retail Dispensary program: The Dormitory Authority of the State of NY (DASNY) and its fund managers were supposed to have raised $150M from private investors by Sept. 1, 2022. This is money that is supposed to pay for the build outs and loans for CAURD licensees. To date, none of it has been raised.

· DASNY is competing against CAURD licensees for locations: CAURD licensees who don’t want a DASNY store or support from DASNY’s fund must still get their location approved by the agency to make sure it doesn’t conflict with a site the agency is negotiating.

· June 1 deadline: Adult-Use Conditional Cultivators and Processors can only distribute their products to retailers until June 1, 2023. The OCM hasn’t yet set rules for legal distributors, let alone begun the licensing process. If there’s no legislative fix by June 1, there’s no way legally to get product from the supply tier to the retail tier.

· Crumbling medical program: Seven years after medical sales began, there are only 38 medical dispensaries across the state of New York. The medical companies are suing the state over the CAURD program and their inability to enter the recreational market, and those companies are also laying off workers and cutting hours. At the end of the day, it’s the state’s patients who suffer from a lack of access, product types and affordability.

· The 4/20 bill: Assemblywoman Donna Lupardo and Senator Michelle Hinchey have introduced legislation that would allow cultivators to sell their products directly to consumers until Sept. 30, 2023. However, this legislation has stoked division between CAURD licensees and growers, and may not even be feasible given the time constraints and lack of capital among growers to institute a “mini retail store” on their property.

· Enforcement: Gov. Kathy Hochul’s enforcement bill has made it into this year’s budget. It aims to increase fines against unlicensed businesses and gives broader authorities to OCM and the Department of Taxation and Finance. But how likely is it to work? And will this effort target Black and brown business owners, reopen the War on Drugs, or miss an opportunity for onboarding these businesses and their tax revenues?

· Lack of communication: Whether it’s with OCM, DASNY or among each other, NY’s cannabis industry lacks the communication avenues necessary to enact meaningful dialogue and an exchange of ideas. Those in the industry often feel they’re getting nowhere with OCM, DASNY is a black box that answers to no one, and supply tiers are often separated both by geographical distance and motivations.

· Legacy: How does the legacy industry successfully onboard into legal without necessary support, financial aid, banking, and other services? Is that a priority for this industry?

· Open topic table: Your chance to bring up any other problems we’re missing from the list above.

After we work to unpack the various challenges and root causes, the group will work to discuss ideas and solutions to move the burgeoning cannabis market forward.

NY Cannabis Insider is hosting a statewide industry summit on May 18 in Albany NY to address challenges and solutions for the legal marketplace.

Meet the sponsors and vendors offering onsite advice and support

Sponsors and vendors are the businesses shaping and supporting the industry. Look for them at the event for advice and help with your cannabis business:

· Cannaspire provides the products, services, and consulting you need to succeed in the cannabis industry from application to expansion.

· New York State Dispute Resolution Association, Inc. is a not-for-profit membership organization committed to the promotion of quality conflict management and peaceful dispute resolution.

· New York Medical Cannabis Industry Association’s mission is to protect and serve the patients in New York’s medical cannabis program while working collaboratively to establish a responsible, inclusive and competitive adult-use cannabis program.

· Ground Game Cannabis is a New York State sales and distribution agency created to help cannabis brands get their products on dispensary shelves and keep them there.

· Local 338 RWDSU/UFCW is a labor union that proudly represents working people in a variety of different industries, including New York’s cannabis workers who are employed across the industry’s full supply chain from seed to sale.

· Citrin Cooperman is one of the nation’s largest professional services firms, with a dedicated Cannabis Advisory Services (CAS) team that utilizes their specialized knowledge to help companies thrive.

· Dickinson & Avella knows the cannabis industry inside and out from their work on the implementation of medical marijuana to the emerging adult-use market.

· The Bluntness is one of the fastest growing independent digital media and marketing platforms exploring, examining and elevating the intersection of cannabis & psychedelic culture, community & commerce.

· Allspace is thoughtful space design meets full-service fabrication & installation; we work with your to develop a concept that encompasses everything from aesthetics to functionality.

· Cannabis Workforce Initiative has a mission to promote and support social equity in the adult-use cannabis market by providing quality workforce development and legal education.

· HUB International Limited has specialized cannabis insurance experts and risk consultants help you manage the emerging risks that face your cannabis business with the right risk transfer and mitigation.

· New York Consortium of Cannabis Accountants has a mission to promote financial literacy among New York’s legacy market leaders and social equity entrepreneurs.

· StaffBuffalo and HRBuffalo are ancillary businesses to the cannabis industry, optimizing the People Operations to enable growing businesses to thrive.

· East Coast Cannabis Insurance offers experienced insurance solutions for everything in the cannabis industry, from workers comp to crop coverage.

· Cannabis360 is a full-service cannabis marketing partner focused on crafting your brand story, finding your best audience and driving brand awareness for your business.

· Hybrid Marketing focuses on business outcomes to move the needle in the areas of revenue, risk, cost, cashflow, and asset utilization.

Our next event will be an afternoon networking and production facility tour hosted by Beak & Skiff/1911 Establish/ayrloom held on June 8 in CNY (tickets and details here). Contact Lindsay Wickham at lwickham@advancemediany.com to learn more about sponsor and vendor opportunities.

As entrepreneurs and cannabis professionals are moving forward in the billion-dollar legal weed industry, NY Cannabis Insider events allow participants to learn about regulations, discuss topics essential to New York State, make connections, establish teams and foundations, and continue business planning.

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