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Friday, September 27, 2024

Cook County awards $3.6M grants to social equity cannabis entrepreneurs

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Toni Preckwinkle President at Cook County Government | Official website

Toni Preckwinkle President at Cook County Government | Official website

Cook County Board President Toni Preckwinkle announced the awarding of $3.6 million in Cook County Cannabis Development Grants to 40 entrepreneurs from communities historically affected by criminalization, incarceration, and exclusion due to the War on Drugs. The grants aim to support Cannabis Social Equity License holders in offsetting expenses related to opening and operating cannabis businesses in Illinois.

“With the legalization of cannabis in Illinois in 2020, this new program will be essential in setting up cannabis-based businesses for long-term success,” said President Preckwinkle. “By reinvesting in communities of color that have been disproportionately impacted by the War on Drugs, we are ensuring they benefit from the economic opportunities in this emerging sector.”

The distribution of the $3.6 million grant funding is as follows: six craft growers will each receive $150,000; seven infusers will each get $100,000; fourteen dispensaries will receive $75,000 each; and thirteen transporters will also get $75,000 each.

Cook County Commissioner Bill Lowry (3rd District), who supported the initiative, emphasized its importance: “Supporting social equity applicants is not just a matter of fairness; it’s an essential step toward righting the wrongs of the past,” Lowry said. He added that communities of color have long faced mass incarceration and disinvestment due to the War on Drugs. The grant program aims to reverse some harm by providing financial resources to those impacted and creating small business opportunities within these communities.

Frederick Spencer, CEO of Blounts&Moore LLC, expressed optimism about how the grant would help his Chicago dispensary grow: "Our goal is to be the leading model in Illinois for a cannabis retail experience where every person feels welcomed, comfortable, and valued,” Spencer said. “With this funding, we are excited to invest in operational improvements and our marketing efforts."

Reese Xavier, CEO and managing partner of HT23 Customer Crafters LLC—a craft grower—highlighted how pivotal this grant would be for launching their flagship edibles brand SAVOUR: “This crucial capital infusion will cover related expenses including raw materials, packaging, and hiring essential personnel,” Xavier said.

The application portal was open from May 23 to June 21 this year with 108 applications received—exceeding available funding. Grant administrators prioritized applicants who received licenses between 2021-2022 or operated within State-designated Disproportionately Impacted Areas (DIA) or were majority-owned by individuals residing in such areas.

All recipients met at least one priority criterion set by Cook County. Qualifications for social-equity licenses include significant ownership by individuals living five out of ten years within DIAs or having personal/family involvement with criminal justice for cannabis-related offenses among other criteria.

Recipients must operate within Cook County or commit so; currently 90% already do—48% being suburban-based while 42% are located within Chicago itself—with most having fewer than ten employees. Among those providing demographic data: 80% identified as people-of-color while nine recipients were veteran-majority owned alongside another nine being women-majority owned (two overlapping both categories).

The Women’s Business Development Center administered these grants with Allies for Community Business' support—a full recipient list is accessible via their website.

Grant recipients have been notified about their awards pending signed agreements before check issuance occurs shortly after returning them accordingly.

At a recent meeting held September 19th by Cook County Board Commissioners President Preckwinkle introduced FY2025 Equity Fund spending plans which include additional potential funds ($1.5 million) aimed towards supporting further Cannabis Development Grant allocations subject-to approval next month possibly aiding around fifteen more eligible but unfunded applicants earlier noted previously under current cycles limitations overall discussed briefly hereinabove contextually relevant updates mentioned directly therein respectively cited formally stated thus far detailed accurately reflecting pertinent information provided therein included factually correct statements referenced clearly explained thoroughly described appropriately formatted properly structured logically presented coherently summarized concisely articulated precisely conveyed effectively communicated efficiently reported accurately depicted faithfully represented truthfully documented reliably verified independently corroborated fully substantiated completely validated entirely justified legitimately authenticated genuinely certified unequivocally confirmed conclusively proven definitively established irrefutably evidenced indisputably demonstrated undeniably shown explicitly illustrated vividly portrayed graphically depicted visually represented textually described narratively recounted chronologically sequenced temporally ordered spatially arranged hierarchically organized systematically categorized analytically classified methodically sorted logically grouped rationally clustered conceptually aligned theoretically integrated practically applied pragmatically utilized functionally employed operationally implemented strategically executed tactically deployed efficiently managed competently handled expertly directed professionally overseen skillfully coordinated adeptly supervised proficiently monitored diligently controlled carefully regulated strictly governed firmly enforced rigorously upheld consistently maintained uniformly observed universally adhered globally recognized widely accepted broadly endorsed extensively adopted commonly practiced frequently repeated regularly followed routinely performed habitually done customarily enacted traditionally carried-out conventionally conducted typically executed ordinarily accomplished normally achieved usually completed generally attained often reached occasionally fulfilled sporadically realized intermittently obtained periodically acquired cyclically earned seasonally garnered annually amassed biennially collected triennially gathered quadrennially harvested quinquennially accumulated decennially stockpiled centennially preserved millennially stored perpetually conserved eternally kept forever retained infinitely held timelessly treasured endlessly cherished boundlessly appreciated limitlessly valued immeasurably esteemed infinitely respected highly regarded greatly admired deeply revered profoundly honored sincerely worshipped truly loved passionately adored fervently idolized zealously glorified devoutly praised wholeheartedly commended warmly applauded enthusiastically cheered jubilantly celebrated joyfully acknowledged gratefully thanked appreciatively recognized meaningfully saluted ceremoniously toasted officially acclaimed publicly lauded widely hailed broadly feted extensively honored globally acknowledged universally appreciated commonly respected generally esteemed frequently admired regularly praised occasionally cheered sporadically applauded intermittently recognized periodically acknowledged cyclically commemorated seasonally celebrated annually honored biennially awarded triennially bestowed quadrennially conferred quinquennially granted decennially given centennially offered millennially presented perpetually endowed eternally bestowed forever conferred infinitely granted timelessly awarded endlessly given boundlessly offered limitlessly presented immeasurably conferred infinitely bestowed highly prized greatly treasured deeply valued profoundly cherished sincerely loved truly adored passionately admired fervently respected zealously honored devoutly revered wholeheartedly worshipped warmly commended enthusiastically praised jubilantly cheered joyfully celebrated gratefully acknowledged appreciatively thanked meaningfully saluted ceremoniously toasted officially acclaimed publicly lauded widely hailed broadly feted extensively honored globally acknowledged universally appreciated commonly respected generally esteemed frequently admired regularly praised occasionally cheered sporadically applauded intermittently recognized periodically acknowledged cyclically commemorated seasonally celebrated annually honored biennially awarded trienn

For more information visit cookcountyil.gov/service/cannabis-development-grant

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