Governor Cuomo announced a proposal to legalize cannabis for adult recreation use in New York as part of the 2021 State of the State address he began on Monday.
New York would join 15 other states to legalize marijuana including Massachusetts, New Jersey, and Vermont here in the Northeast. Today 18 news spoke with President of the New York Cannabis Growers and Processors Association, Allan Gandelman, who had some bold claims in regards to this new legislation.
“It would have a bigger impact on the upstate economy than the craft beer industry does. If this is done correctly we will see a billion dollars in total revenue for the adult use program in the first full year operating in New York State,” Gandelman said.
The biggest factors will be what kind of licenses the state gives out, what size acreage they will allow for growing and whether or not there is a heavy tax burden that people will not be able to compete. He states that this size revenue is a “big if” but hopes it will be seen through.