The Illinois marijuana industry is still falling short on social equity for dispensary ownership, with Black majority ownership only at 1%.
There is a lot of money to be made in the Illinois marijuana industry - $1.5 billion in fact - but data analysis shows not everyone is getting an equal chance to cash in on cannabis.
"No one would have thought that this would be a moment in time where we could really look at being owners," Hightower said."And really look at creating this space to increase generational wealth in something that had been so criminalized previously," Hightower said. Erin Johnson, who oversees marijuana operations for Illinois, said her office is working to level the playing field.
Johnson said of the conditional 192 social equity licenses awarded in July, 40% are majority Black-owned. "You are asking people who have been left out of an industry, and now asking them to have a network of individuals who have multiple millions of dollars. And that's just not something that most of us have access to," he said.
According to the state, conditional licensees may also apply for a 180-day extension for their conditional license if they "demonstrate concrete attempts to secure a location and a hardship." The extension application may be foundJohnson said to remove the barriers some owners may face, the state offers a direct forgivable loans program.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Black History Heroes: Earl Lloyd, the NBA's first Black player, moved basketball forwardUSA TODAY Sports is publishing the series “28 Black Stories in 28 Days,' during BlackHistoryMonth We examine issues Black athletes continue to face in this nation. Here is one of those stories. Earl Lloyd, the NBA's first Black player, was a force.
Read more »
Black Music Action Coalition and Academy of Country Music Launch Program for Black Artists and ProfessionalsThe Black Music Action Coalition (BMAC) and Academy of Country Music have come together to launch OnRamp, a program set to empower the next generation of Black leaders. 👏
Read more »
Perspective | Why it’s important to teach Black kids Black history and cultureA cultural arts program in D.C. teaches Black children how to tell their story, know their history and save their souls
Read more »
Barbershop Talk with Temple: Family going from Black-owned business to Black-owned empireThe Mission Valley business owner didn't know how to read and write until he was in his 20s and now he's setting the example for people of color on how they can be their own boss.
Read more »
ABC7 celebrates Black History Month at annual luncheon at DuSable Black History MuseumABC7 celebrated Black History Month with our annual luncheon Tuesday at the DuSable Black History Museum and Education Center.
Read more »