$421.2 Million in Sales Highlight Rapid Growth and Market Expansion
53 Percent Of Licenses Awarded To Social And Economic Equity Applicants; 37 Percent Minority-Owned, 39 Percent Women-Owned
Governor Kathy Hochul announced New York has reached a significant milestone in the growth of the legal cannabis industry. New York State is pleased to recognize the opening of the 150th Adult-Use Retail Dispensary (CAURD), The Robinson’s Dispensary, located in Albany, NY. New York currently has 150 adult-use cannabis retailers — including storefronts and temporary delivery-only (TDO) locations — open and operating across the State, with more anticipated to open soon. These retailers represent a diverse mix of CAURD licensees with storefronts and providing delivery services, as well as adult-use dispensaries co-located with existing medical dispensaries. The growth of the cannabis industry in New York is reflected in the rapidly growing retail sales figures, with total sales reaching $421.2 million. Notably, sales surged to $71 million in June alone, indicating a thriving market.
“As New York expands the most equitable cannabis market in the nation, my administration remains committed to building a safe industry for all New Yorkers that will grow our small business community,” Governor Hochul said. “New dispensaries continue our mission of strengthening our legal market while at the same time helping to push out the bad actors who skirt our laws and undermine all we are trying to accomplish. The grand opening of The Robinson’s Dispensary is an incredible achievement for the State of New York and is a part of many more milestones to come.”
New York State Office of Cannabis Management Acting Executive Director, Felicia A.B. Reid said, “We are thrilled to celebrate this significant milestone in New York's cannabis industry. OCM’s commitment to building a strong market rooted in equity and the possibility of opportunity ensures that communities across the State can participate and flourish. The Robinson family’s story is a testament to progress, the power of partnership and OCM’s dedication to economic development aimed at creating an inclusive and robust cannabis community. The State has surpassed the Social and Economic Equity (SEE) goal set out in the Cannabis Law by awarding 53 percent of licenses to social and economic equity applicants. Within that group, 37 percent are minority-owned businesses and 39 percent are women-owned businesses.”
The State has also almost doubled the percentage of majority minority-owned dispensaries nationwide. As of July 2024, 37 percent of NY's adult-use dispensaries are majority minority-owned; nationwide, only 19 percent are majority minority-owned. Similarly, 20 percent of NY’s adult-use open dispensaries are majority Black-owned, compared to 2 percent nationwide. About 50 percent of New York’s open dispensaries are Minority- and/or Women-Owned Businesses, underscoring the State's commitment to inclusivity and accessibility.
Owned by experienced entrepreneur and Albany County legislator Mark A. Robinson, the business aims to better serve local New Yorkers seeking legal, tested, and safer cannabis products. Robinson is passionate about making a positive impact on the community through his budding venture. Following the grand opening event, Robinson’s Dispensary opened its doors to the public, offering a diverse range of New York State-grown and processed cannabis products to adult consumers. The event was attended by community leaders and stakeholders, who came together to support this landmark addition to New York's burgeoning cannabis sector.
Discover one of the 150 New York State dispensaries near you today!
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