The Cannabis Regulatory Agency (CRA) of Michigan has recently announced the launch of its new Social Equity Grant Program. This initiative is a significant step forward in the agency's ongoing efforts to support and develop its Social Equity Program, which has been shaped through extensive dialogue with industry stakeholders and program participants.
Brian Hanna, the Executive Director of the CRA, expressed his enthusiasm about the program, acknowledging the dedication and investment of social equity licensees in their cannabis businesses. He anticipates the grants will provide a substantial boost to these businesses, benefiting not only the licensees but also their employees and local communities.
Senator Sarah Anthony of Lansing, who played a pivotal role in securing social equity funding in the state budget, highlighted the importance of this financial support. She emphasized the need to assist those impacted by cannabis prohibition and noted that these funds are crucial for helping social equity participants expand their businesses and contribute positively to their communities.
The Social Equity Grant Program offers financial assistance in several key areas:
To qualify for this grant, applicants must hold a valid adult-use license issued by the CRA, have a majority ownership by eligible Social Equity Program participants, and be certified in the CRA's Social Equity All-Star Program.
The application period for the 2024 Social Equity Grant Program is open from December 1st, 2023, to January 26, 2024. Applications must be submitted via email by 5:00 pm on January 26th, 2024, with detailed instructions available on the CRA website.
Each eligible entity can receive only one grant, regardless of the number of licenses held. The total grant pool of one million dollars will be distributed equally among approved applicants. For example, if there are 100 grantees, each will receive $10,000.
Social Equity Program licensees not yet involved in the CRA's Social Equity All-Star Program can contact [email protected] for details on participation. This step is a prerequisite for eligibility in the Social Equity Grant Program.
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