Governor Wes Moore Unveils New Funding for Maryland’s Cannabis Entrepreneurs
WBFF — Governor Wes Moore announced the latest round of funding from the Maryland Department of Commerce’s Cannabis Business Assistance Fund, aimed at supporting small businesses in the state’s adult-use cannabis sector. This marks the fourth financing initiative, designed to enhance equity and stimulate economic growth within Maryland’s cannabis industry.
“Our administration is committed to diversifying this booming sector,” remarked Gov. Moore, noting that the program supports new social equity cannabis business licensees selected via a lottery system last year. Over 200 applicants were chosen across various categories, including growers, processors, and dispensaries.
Maryland Commerce Secretary Harry Coker, Jr. emphasized the fund’s role in empowering small, minority, and women-owned businesses. The initiative enables more opportunities for entrepreneurs in a rapidly evolving industry. Director of the Maryland Cannabis Administration, Tabatha Robinson, highlighted that the funding assists with crucial business expenses such as employee training and equipment.
With previous rounds awarding over $45 million, the program remains a vital resource for newly licensed businesses. Audrey Johnson, Executive Director of the Maryland Office of Social Equity, stressed that this funding helps level the playing field for social equity entrepreneurs, providing essential startup capital. More information on eligibility and deadlines can be found on the Maryland Department of Commerce’s website.
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