At the end of March, New York state lawmakers approved the Marijuana Regulation and Taxation Act, making it the 17th state in the U.S. to legalize cannabis for adults 21 and older. The bill establishes a new regulatory body, the Office of Cannabis Management, to oversee the new adult-use program, in addition to the existing medical and hemp markets. Other provisions are detailed in the bill; however, much of the regulatory framework has yet to be decided, leaving the 10 existing medical cannabis companies operating in the state in limbo. Cannabis Business Times spoke with Hillary Peckham, chief operating officer of Etain, an independent, women- and family-owned medical cannabis operator with a cultivation facility and four dispensaries in New York, to get her take on the bill and how the company plans to transition into the adult-use market.
Michelle Simakis: What aspects of New York’s adult-use cannabis bill that have been outlined so far do you like?
Hillary Peckham: I think it’s really incredible they have passed legislation with an initiative for diverse business ownership. That’s something we really support, especially trying to foster small business social equity licenses and MWBEs [minority- or women-owned business enterprises]. (Editor’s Note: The bill