As the country moves to legalize cannabis, cannabis Multi State Operators (MSOs) are looking toward New York as the next potential market to jump into. With the passage of an adult-use cannabis bill currently stalled in the state legislature, these forward-thinking MSOs can only wait and hope that Gov. Andrew Cuomo’s new and progressive views on the subject of cannabis will lead him to open New York’s borders to commercial marijuana operators. For now, they must have faith that their pleas for access to the vast and potentially lucrative New York market will not go unanswered.
1. New York: Taking a Stand on Marijuana MSOs
In recent years, the state of New York has been pushing to legalize medical marijuana and decriminalize the possession of small amounts. Despite the potential economic and social benefits, however, there is still a great deal of controversy surrounding the issue. To provide support to those who wish to get involved in the discussion, a number of Marijuana Management Solutions (MSOs) have begun popping up throughout the Empire State.
These MSOs are operated by various cannabis-related companies and they specialize in establishing and maintaining taxation and regulatory compliance with local, state, and federal laws. Some of these solutions include:
- Cannabis Investment Opportunities: MSOs can provide investors the chance to get involved in the marijuana industry and benefit from its growth.
- Guidance and Advice: MSOs provide advice and counsel on legal and tax issues related to marijuana businesses.
- Marketing Assistance: MSOs provide assistance in creating and maintaining a successful public image for cannabis businesses.
For those who are looking to make their voice heard in the cannabis debate, MSOs are a great way to make sure that their opinion is heard and understood. By researching and reaching out to the right solutions provider, New Yorkers can take a stand and make a difference!
2. Unlocking the Potential of the State’s Adult-Use Market
The legal landscape of the adult-use market in the state has the potential to unlock new economic opportunities for businesses and consumers alike. By allowing for recreational use, the industry creates a vast market of products and services- ranging from low-THC edible products to high-THC flower- all waiting to be sold. But, unlocking the full potential of the market requires comprehensive compliance and enforcement strategies.
To ensure customer safety and facilitate a compliant cannabis industry, both operators and consumers must adhere to a host of regulations that govern the state’s adult-use market. From tracking the source of cannabis to ensuring packaging and labeling accurately reflect amounts and potency of cannabis products- compliance protocols are the lynchpins of a successful state-regulated market. Additionally, stringent testing and age verifications are necessary to prevent underage users from entering the market.
- Regulatory compliance – Ensuring companies and customers adhere to all relevant regulations
- Tracking – Establishing a reliable system to track the source of cannabis products
- Packaging & Labeling – Accurate and adequate information about amounts and potency of products
- Testing – Comprehensive testing for safety and quality assurance
- Age verification – Preventing underage use of cannabis products
3. The Fight For Marijuana MSOs to Enter New York
As the state of New York grapples with the decision to legalize cannabis, the pressure is on Marijuana Management Services Operators (MSOs) to help shepherd the process. MSOs are companies that handle the day-to-day activities associated with running a cannabis business, and they’ve been instrumental in getting retail markets up and running throughout the United States.
In the absence of MSOs, it will be very difficult for any recreational marijuana market to successfully launch in New York. In fact, even after the state legislature passes a bill allowing legal cannabis, the industry’s future is uncertain without this critical infrastructure in place. Companies like Weedmaps, Curaleaf, and Hexo are eager to get in the market, but New York’s current regulations are proving to be a major hurdle.
- Cannabis dispensaries in New York are in need of MSOs in order to help ensure their success as the industry develops.
- Cannabis companies are pressing the New York government to revise its existing regulations to allow MSOs to invest in and operate retail outlets in the state.
Unfortunately, the process of introducing MSOs into the cannabis industry in New York has been anything but smooth; the state legislature has been slow to act while the industry continues to grow by leaps and bounds. If the current politicians in office can’t come to an agreement on the issue of cannabis, then the future of this new market may be in jeopardy. There is still hope however, as popular opinion continues to shift in favor of cannabis legalization.
4. An Outlook of Hope for a Thriving Cannabis Industry in New York
On the Right Track
The New York cannabis industry is making progress toward full legalisation, with moves toward de-criminalisation, medical use, and even hopeful hints of full legalisation. Recent surveys have shown that New Yorkers supports legalisation and regulation of cannabis, providing a positive outlook for the future. This increasing popular support creates a conducive environment for a thriving cannabis industry in New York.
The legalisation of cannabis in New York presents numerous job opportunities, from entrepreneurs, start-ups and small businesses, to major corporations. Cannabis businesses can contribute to the local economy in a variety of ways, such as:
- Creating new jobs within the industry, ranging from growers, distributors, technicians, and retail staff.
- Generating more revenue for local businesses, as well as generate more taxes both for federal and state governments.
- Strengthening public safety, since proper regulation will help reduce the distribution of illegal cannabis. The presence of a legal cannabis industry can, furthermore, bring about a decrease in violent crimes.
- Offering healthcare benefits, since medical cannabis can provide relief for those with certain ailments.
The future of the cannabis industry in New York is bright, and its economic benefits could be immense. With the right regulations in place and the continuous support of the people of New York, the industry is well on its way to becoming a powerful and vibrant part of the state.
It’s clear that these MSOs see New York’s adult-use market as an opportunity for tremendous success, for both the companies and the state of New York — a benefit for all. As the industry awaits the decision from Governor Cuomo, there’s an anticipation for the potential of an emerging market, and an opportunity to bring the benefits of marijuana to the Empire State.