SAN FRANCISCO (BCN) — The City of San Francisco has received a $4.5 million state grant to promote fairness in the city’s cannabis industry, city officials said Friday. city.
The state Office of Business and Economic Development grant will support the equity grant program within the San Francisco Cannabis Bureau, according to city officials.
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The grant program has awarded more than $5.5 million to more than 50 businesses since the city launched it in February 2021.
About 65% of former grant recipients are people of color, according to the city.
“From a historical perspective, the Equity Grant Program represents government proactively addressing drug policies that have harmed our communities,” said Cannabis Office Director Nikesh. Patel, in a statement. “We hear from social equity applicants how powerful these grants are for advancing their businesses.”
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Grant recipients can use their funds, with awards ranging from $50,000 to $150,000, to reimburse or advance expenses such as legal assistance, regulatory compliance, rent, and accounting services.
City officials say $2 million in new cannabis equity grants will be available in May.
Information on applying for the Cannabis Business Grant is available on the city’s website at sf.gov/step-by-step/step-step-grants-guide-eligible-grantees.
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