NEWS RELEASE: State Grant to Support New Phase in City’s Cannabis Equity Program
Post Date:03/26/2024 2:30 PMFOR IMMEDIATE RELEASE
CONTACT
Carlos Velazquez, Public Information Manager, Office of Economic Development & Cultural Affairs
408-535-8168; carlos.velazquez@sanjoseca.gov
State Grant to Support New Phase in City’s Cannabis Equity Program
SAN JOSE, Calif. (March 26, 2024) – Today, the San José City Council accepted a one-million-dollar ($1,026,820) cannabis equity grant from the California Governor’s Office of Business and Economic Development to embark on a new phase of the City’s Cannabis Equity Business Academy.
This funding will assist the Cannabis Equity Business Academy graduates through grants for their business’s startup and ongoing costs, including obtaining legal and regulatory assistance. Graduates of the Academy will be eligible for the 10 retail cannabis registrations the City has set aside for Cannabis Equity Business Owners.
“We are thrilled to support the City of San José’s efforts to reduce barriers to entry into the legal, regulated cannabis industry,” said Will Koch, Deputy Director of Community and Local Equity Grants at the California Governor’s Office of Business and Economic Development (GO-Biz). “We look forward to this grant providing the technical assistance and funding to support equity in licensing and cannabis business registrations.”
The City of San José’s Cannabis Equity Business Academy, led by the Office of Economic Development and Cultural Affairs in partnership with the Enterprise Foundation and the Cal Asian Chamber of Commerce is a no-cost, inclusive program that provides comprehensive entrepreneurship training within the cannabis sector to those disproportionately affected by the regulations and enforcement of historical cannabis laws. The program’s development was informed by the City’s Cannabis Equity Assessment completed in 2022.
“San José’s Office of Economic Development and Cultural Affairs is committed to driving a competitive economy that increases the prosperity and quality of life for all our residents and business owners,” said Nanci Klein, Director of the Office of Economic Development and Cultural Affairs. “The Cannabis Equity Business Academy seeks to equalize the playing field in this complex and heavily regulated business sector, and I am glad to say that of the 29 San José residents participating in the Academy, 86% of them identify as Asian, African and Native American, Latino or Pacific Islander.”
“As advocates for social equity, the CalAsian Chamber reaffirms its commitment as partners and supporters of San José's Cannabis Equity Business Academy Program,” said Frank Louie, Chief Operating Officer for the CalAsian Chamber of Commerce. “We have enjoyed working with all the eligible participants in our cohort, and they continue to impress us with their enthusiasm, dedication, and commitment to pursue their goals to open a licensed cannabis operation.”
About the City of San José With almost one million residents, San José is one of the most diverse large cities in the United States and is Northern California’s largest city and the 12th largest city in the nation. San José’s transformation into a global innovation center has resulted in one of the largest concentrations of technology companies and expertise in the world.
About the San José Office of Economic Development and Cultural Affairs The San José Office of Economic Development and Cultural Affairs (OEDCA) is committed to a vital, competitive San José economy that increases prosperity for people and companies. OEDCA guides the city's economic strategy, provides assistance for business success, connects employers with trained workers, and provides art and cultural resources to our community. For more information, go to www.sjeconomy.com.
