420 with CNW — Tax Exemptions That Companies Could Access Once Cannabis Rescheduling Is Complete

The marijuana industry has been significantly hindered by Section 280E of the IRS Code, which prevents businesses dealing with substances listed in Schedules 1 and 2 of the Controlled Substances Act (CSA) from deducting regular business expenses.

Although Section 280E affects federal deductions, the regulations are not governed by federal laws in half of the markets where marijuana businesses are licensed to sell the drug for recreational or medical purposes. This implies that when cannabis businesses submit their state taxes, they are not subject to Section 280E.

This provision has stunted the growth of legal cannabis businesses across the country. However, the sector is about to undergo a major financial shift due to the Biden administration’s proposal to reclassify the drug from Schedule 1 to 3.

Cannabis enterprises are subject to significant limitations on their income-tax obligations and tax filings under Schedule 1. They must also consider whether the states in which they conduct business adhere to federal tax rules.

Section 280E prevents companies from claiming a wide range of administrative, selling and general expenses that are typical for other businesses, including the following:

Rent: Leasing space, a common deductible expense in other industries, cannot be deducted in the marijuana sector.
Salaries and wages: Paying employees, from executives to budtenders, does not provide any tax relief.
Utility costs: Essential utilities such as water and electricity cannot reduce the tax burden.
Maintenance and repairs: Keeping facilities in good condition is a nondeductible expense, limiting reinvestment and improvements.
Advertising and marketing: Promoting and building a brand drains funds without the benefit of tax write-offs.
Health insurance: Providing medical coverage for employees is an unrecognized expense, affecting workforce stability.
Amortization and depreciation: The gradual loss of asset value over time is not acknowledged by federal tax rules for nonplant-touching assets.

What could change if cannabis businesses were freed from the constraints of Section 280E? It would result in a scenario where the industry is no longer categorized alongside substances such as LSD and heroin but rather with everyday prescription medications.

For starters, cannabis businesses could claim deductions for typical expenses such as salaries, rent, utility bills, and advertising and marketing costs. Money saved from 280E could be reinvested into the enterprise, spurring growth, job creation, research and development.

Further, cost savings could be passed on to consumers, making medical marijuana more affordable and accessible. Additionally, with reduced stigma, obtaining loans, credit lines and banking services could become easier. Relief could also lead to competitive pricing for patients and consumers, reducing the appeal of the black market.

The potential for these changes has the industry excited and speculative. Will these possible deductions create a thriving economic environment for marijuana businesses, or will financial parity with other industries remain elusive?

One thing is certain: rescheduling cannabis and making Section 280E irrelevant for marijuana entities could unleash a flood of prosperity and turn a once-restricted sector into a major player in the financial world.

The question: when will the industry be able to reach its full potential financially? Marijuana companies such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) can only wait for the final rule to be published so that they ascertain how the change in policy will impact their tax obligations.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — Marijuana Operators in Pennsylvania Complain About Software Mandated by Regulators

Pennsylvania’s medical cannabis market generated more than $1.3 billion in sales in 2023, despite numerous issues and outages with the state’s mandated track-and-trace software. Operators claim these problems could be avoided if the software provided by MJ Freeway functioned correctly.

Although MJ Freeway recently merged with BioTrack to form Alleaves, it remains the sole provider under a contract established in 2017. Industry operators and a few legislators have voiced frustrations regarding MJ Freeway’s lack of a two-way Application Programming Interface (API) with other approved software used for sales and inventory management. This means businesses must manually input data, such as lab results and POS information, into MJ Freeway, which is both prone to errors and is time consuming. Additionally, when MJ Freeway experiences an outage, such as one that occurred last September, all operations are forced to halt.

Software providers, such as I Heart Jane and Dutchie, have confirmed that the API connection with MJ Freeway is nonfunctional, further complicating matters for businesses.

The situation is exacerbated by the state health department’s delay in implementing a fully integrated API system as mandated by a 2021 rule. State Representative Joe McAndrew expressed his confusion over the monopoly held by MJ Freeway in the state’s cannabis industry. McAndrew presented a resolution to the state legislature in May that would mandate that the health department integrate the required API technology per state law and review its contract with MJ Freeway within a month.

At the moment, medical marijuana enterprises can employ seven software providers certified by the health department; however, not all of them can interface with MJ Freeway. The ambiguity surrounding which platforms can communicate with the mandated software adds to the confusion.

Neil Ruhland, a spokesman for the health department, emphasized the organization’s dedication to safeguarding patient data while also looking for ways to enhance the current setup. Ruhland acknowledged that Pennsylvania already employs a seed-to-sale solution with some API capabilities, but he did not specify which vendors have a functional two-way API with MJ.

Moreover, the state is exploring alternatives to MJ Freeway, as indicated by a public notice posted last November, though the current status of that search remains unclear.

The $10.3 million, five-year contract with MJ Freeway was extended in April 2022. Grown In, a cannabis-related newsletter, said that MJ Freeway can charge medical cannabis licensees an extra $80,000 a year for assistance because of the deal.

As state lawmakers consider three different proposals for legalizing adult-use marijuana, the importance of a reliable seed-to-sale platform becomes more evident. Legalization PA, an advocacy group, estimates that legalizing recreational cannabis could potentially boost the state’s cannabis market to $2.8 billion in yearly sales.

Cannabis advocates thus emphasize the necessity of an effective and interactive software system to prevent the problems encountered in the past few years.

The concerns of industry players in Pennsylvania need to be addressed so that they don’t have to grapple with more challenges than they already face. This will enable them to have a chance at thriving in the same way industry companies such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) are thriving in other legal markets.

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420 with CNW — Marijuana Research Hurdles Could Remain Despite Federal Rescheduling

The Biden administration’s decision to reclassify cannabis as a less-harmful drug might ease some research challenges, though scientists caution that obstacles will persist. Ziva Cooper, director of the UCLA Center for Marijuana and Cannabinoids, described this moment as historically significant but expressed cautious optimism about the actual implementation of these changes.

Although many Americans now live in states where marijuana is legal, federal restrictions have historically constrained research into its effects and applications. Researchers who have long studied marijuana believe this reclassification could boost funding and interest in research. However, they acknowledge that regulatory and logistical issues may still dampen enthusiasm.

Traci Toomey, who heads the University of Minnesota’s Marijuana Research Center, echoed Cooper’s sentiments. She noted that while some research opportunities might open up, these opportunities will not be entirely unrestricted.

Last week, the U.S. Department of Justice formally recommended reclassifying cannabis as a Schedule III substance, which recognizes its potential medical benefits and aligns its classification with drugs such as codeine-infused Tylenol, testosterone and ketamine. This shift would not legalize cannabis at the federal level but would remove it from the same category as LSD and heroin, thus reducing some of the restrictions around it.

Recently, an assessment by the U.S. Department of Health and Human Services noted that there was some reliable scientific evidence supporting the use of cannabis as a treatment for specific ailments. Nonetheless, some detractors contend that there is insufficient proof to support its medicinal application.

The federal government’s finalization of this reclassification will probably lower certain barriers to study. It will be easier for academics to obtain federal research licenses, and researchers won’t need to store cannabis in costly, highly secure facilities. Moreover, the U.S. Drug Enforcement Administration would no longer impose quotas on cannabis production for research purposes.

This could make hospitals, universities and even government agencies more willing to support clinical trials involving marijuana, according to Will Humble, executive director of the Arizona Public Health Association.

However, the impact of FDA regulations on cannabis research remains uncertain. While the FDA normally approves Schedule III drugs, it has not yet approved cannabis for any treatment, although it is commonly used for pain treatment, hunger stimulation and nausea control following chemotherapy.

Furthermore, rescheduling marijuana will not immediately increase the number of FDA-approved facilities where researchers can obtain the drug.

Valerie Ahanonu, head of the University of Utah’s Center for Medical Marijuana Research, highlighted that even years after the legalization of hemp-derived CBD, research remains difficult due to sourcing issues that meet federal standards. Ahanonu stressed the complexity and extensive bureaucratic procedures involved, making it uncertain how much the reclassification will genuinely enhance research opportunities.

Despite these challenges, the potential for expanded research and a greater understanding of marijuana’s medical applications remains promising, and marijuana enterprises such as Aurora Cannabis Corp. (NASDAQ: ACB) (TSX: ACB) are likely to applaud every policy change that moves cannabis a step away from the existing prohibitive restrictions at the federal level.

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420 with CNW — White House Noncommittal on Biden’s View of DOJ’s Stand on Cannabis Reclassification

The White House hasn’t disclosed whether President Joseph Biden backs the U.S. Department of Justice’s (DOJ) proposal to reclassify cannabis after a review he initiated. During a conversation with Karine Jean-Pierre, the White House press secretary, reporters asked questions regarding the president’s stance on the DOJ’s proposal to shift marijuana from Schedule I to III.

Jean Pierre responded by noting that Biden’s administration would let the review process unfold, so she wouldn’t “preempt the matter.” She also stressed the president’s clear stance against incarcerating individuals solely for cannabis possession. Jean-Pierre has consistently refrained from directly addressing the administration’s stance on the rescheduling proposal. Nonetheless, she noted that the review directed by the president aligns with his promise to voters during the last election.

Biden has granted mass pardons twice to individuals convicted of federal cannabis possession offenses. Reclassifying marijuana to Schedule III wouldn’t legalize it or release individuals currently imprisoned for cannabis-related charges.

It’s worth noting that during his presidential campaign, Biden promised to reclassify cannabis as Schedule II substance, which is a stricter classification than what his administration is considering. Jean-Pierre reiterated that the president’s position on the matter is the reason behind his directive for the U.S. Department of Health and Human Services (HSS) and the DOJ to review the rescheduling of cannabis.

The White House has yet to confirm the status of the rescheduling proposal. While Jean-Pierre mentioned the proposal is with the DOJ, the department confirmed completing the review. It’s expected to have been forwarded to the White House Office of Management and Budget (OMB) for assessment before publication in the Federal Register for public input.

During a committee hearing last week, the head of the U.S. Drug Enforcement Administration (DEA) declined to comment on the department’s recent cannabis rescheduling decision due to the ongoing rulemaking process.

Last month, the press secretary reiterated Biden’s support for cannabis decriminalization. She also stressed that HHS’s rescheduling recommendation to the DEA was grounded in evidence and science, echoing the administration’s principles.

Both Biden and Vice President Kamala Harris have increasingly vocalized their support for cannabis policy reform leading up to the November election. Additionally, the top House Democrat noted that the administration’s move to reschedule cannabis is a positive step but advocated for further congressional action, including passing Senate Majority Leader Chuck Schumer’s legalization bill.

Conversely, a GOP senator argued that cannabis serves as a “gateway drug” and criticized Democrats’ legalization efforts as promoting criminal behavior. He also expressed concerns about marijuana banking legislation facilitating increased drug use in the United States.

All that marijuana companies such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) can do at this point is to wait for the formal communication by the DEA regarding their stand on marijuana scheduling in light of the recommendation that the agency received from HHS.

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420 with CNW — Official Records Show Recreational Marijuana Sales in Canada Exceeded C$5B in 2023

In 2023, Canada’s recreational marijuana market boasted a value of approximately C%5.07 billion ($3.8 billion), a recent government report on retail sales stated. This reflects a 12.2% increase from the previous year, showcasing a trend of growth, albeit at a slower pace compared to earlier years, marking more than five years since the legalization of recreational marijuana in 2018.

Brad Poulos, an entrepreneurship professor at Toronto Metropolitan University, explains this slowdown as a normal evolution of the market. He points out that a big part of the increase in sales of legal marijuana comes from customers moving away from illegal sources. This trend is expected to continue in 2024, with 40% of cannabis transactions still taking place in the illegal market.

One aspect where the illicit market maintains an edge, according to Poulos, is in marijuana edible potency, a product capped by Canadian regulations at 10 mg of THC per package for public health purposes.

Headset Data analyst Mitchell Laferla draws attention to how customer preferences changed last year in Canada’s marijuana market, with pre-rolled joints showing a remarkable rise in sales, accounting for 31.4% of sales, which is a significant increase over the previous year. This surge brings pre-rolls nearly on par with flower products (35.2%), traditionally the most popular category.

Moreover, Laferla’s analysis notes that, in 2023, marijuana prices in Canada decreased generally for the majority of product categories. But compared to the double-digit compression seen the year before, this decrease was less severe, with pre-roll pricing notably remaining stable, probably helped by continued demand in the category.

The recent retail sales data from Statistics Canada for December revealed a year-over-year increase of 3.6% in legal recreational marijuana sales, amounting to C$441.2 million. This represents an 8.2% month-on-month increase over November 2023, reversing the downward trend that had been seen since August, when monthly sales reached a height of C$467 million.

Despite these positive indicators, challenges persist within the regulated market. High taxes remain a significant grievance among industry stakeholders, compounded by the enduring presence of the illicit market. In addition, the industry is looking forward to the parliamentary study of legalization that is scheduled for release in the spring, though it is unclear if the outcome will allay the worries of cannabis retailers and producers.

The marijuana retail industry in Canada is still recouping after several locations were either closed or acquired last year.

Looking ahead, Poulos estimates a potential 10% growth in Canadian marijuana sales for 2024 over the previous year, fueled by continued migration of users from the illicit market and further expansion of legal dispensaries, particularly in regions with limited accessibility such as Quebec and certain municipalities in Ontario.

Individual companies, such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), are likely to fare differently in the new year depending on how well they position themselves to appeal to different consumer segments, including medical marijuana users.

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420 with CNW — Data Provides Insights on Canadian Cannabis Company Closures in 2023

According to new data given by regulators overseeing the three major Canadian cannabis marketplaces — British Columbia, Ontario and Alberta — an unprecedented number of stores in Canada experienced shutdowns or ownership changes in 2023. The data, sought by MJBizDaily, indicates a retail environment characterized by intense competition in certain places and moderate growth in others.

Alberta saw a shift in dynamics as, for the first time since marijuana was legalized in the province in 2018, more marijuana retail licenses were revoked or not renewed than were issued last year. Forty-eight new marijuana store licenses were issued in the province in 2023, while 62 were not renewed or revoked. This marks a departure from 2022, where 140 new licenses were issued compared to 73 cancellations or nonrenewals.

While the data presents a nuanced picture of store closings, the regulator, AGLC, cautions against drawing straight conclusions about license cancellations and business exits from the industry, noting variables such as relocation.

Alberta is regarded as Canada’s most developed cannabis retail sector, with 749 marijuana providers.

Meanwhile, in Ontario, the country’s largest cannabis market based on sales, new retail cannabis store applications have gradually waned since 2021. More than 1,000 applications for retail stores were submitted in 2021, according to information provided by the regulator, AGCO. More than one-half of applications were lost the next year, to 429 new RSAs, and then another 50% fell to 269 in 2023.

The number of license cancellations has not increased as fast. Only 8 applications were terminated in 2021. In 2022, the number increased to 106, but in 2023, it dropped to 92. According to the data, more retailers are reportedly opening in Ontario than closing.

Only 47 cannabis licenses have been approved in British Columbia (BC) in the last year, which is a drop from the 2022 numbers and around 50% fewer than the 98 permits that were granted in 2021. There were 17 expirations or cancellations in 2023, 6 in 2022 and 12 in 2021, according to data from the LCRB.

Currently, BC has 493 operational cannabis stores. The provincial system does not specifically track store closures; hence, the solicitor general and public safety ministry advise against taking the statistics as an accurate depiction of business closures.

A spokesman for the Public Safety Ministry pointed out that the analysis failed to take license dormancy into consideration, which could result in permanent closures. Dormancy occurs when an establishment ceases operations, requiring license holders to inform the LCRB in 10 days if closure exceeds 90 days.

Stores that fail to disclose closures for less than 90 days and permits that lie idle for up to 24 months also add to the difficulty of keeping track of changes in the business. The number of inactive or unrenewed licenses varies throughout the year due to licensees’ one-year window to reactivate their licenses after they expire.

The continued operation of companies such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) is testament to the resilience of the marijuana industry in the country amid the challenges that have stood in the way.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — Restrictions Imposed on New Recreational Marijuana Markets Could Stifle Business

America was one of the first countries on the globe to adopt cannabis reform and repeal prohibitionist cannabis laws, at least at the state level. The country is now home to the largest cannabis markets on the globe and earns billions of dollars annually from fees and cannabis sales.

Twenty-four states already allow recreational cannabis sales, but several of them passed adult-use cannabis policies in the past couple of years and are still working out the kinks in their markets. However, players in some of America’s youngest recreational cannabis markets are grappling with increasingly stringent rules and regulations that have the potential to stifle their growth. The cannabis industry is already known for its strict rules and numerous fees, which often raise the cost of business and make it hard for businesses to turn a profit.

However, newer markets are taking it a step further with outright bans on certain cannabis products and harsh limitations on marketing, product design and packaging as well as much lower potency caps. Consequently, cannabis operators in young markets such as Maryland, Arizona, New York and Missouri are now facing new policies that could increase the already high cost of business even further and cripple these markets before they can truly soar.

Missouri’s recreational marijuana market is looking at another potential inventory shortage as dozens of manufacturers and brands wait for hundreds of thousands of their product stock-keeping units to receive approval. This expanding backlog, which prevented many brands from entering Missouri’s adult-use market, is due to child safeguards included in new packaging rules that were published in July.

Marijuana product manufacturers in Missouri have been waiting for several weeks now after the Missouri Department of Health and Senior Services (DHSS) passed guidelines limiting cannabis packaging to a single primary color and up to only two symbols or logos featuring different colors.

Operators in New York are also struggling to follow newly passed packaging rules for recreational cannabis while businesses in Maryland have barely any room to market their brand, retail stores or cannabis products on most conventional marketing channels.

Cannabis regulators in Maryland have also banned the sale of cannabis elixirs and concentrates, which are best-sellers in other recreational markets. They also passed capped THC levels in individual edibles at 10 milligrams and 100 milligrams per package. According to Wendy Bronfein, the cofounder of Maryland cannabis operator Curio Wellness, the current environment simply isn’t conducive to business.

For companies that may be looking to expand into different markets, such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the tightening restrictions being imposed on the new markets may be a serious matter of concern.

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420 with CNW — Feds Finally Publish Documents Revealing HHS Cannabis Rescheduling Recommendation

The federal government has released documents confirming that the U.S. Health and Human Services has recommended that the DEA categorize marijuana under Schedule III. Currently, the Controlled Substances Act classifies marijuana as a Schedule I substance, which means it has a high potential for abuse and has no accepted medical use.

Health officials explained that marijuana had a lower potential for abuse in comparison to other substances under Schedule I or II and was already accepted for medical use in America. In their review, the health officials stated that more than 30,000 healthcare professionals across various jurisdictions in the U.S. were allowed to recommend the medical use of cannabis for more than six million eligible patients for roughly 15 medical conditions.

The majority of the documents debate the federal government’s analysis for drug scheduling, calling attention to the importance of cannabis’ abuse potential in comparison to other substances, its risk of physical dependence, its relative safety and whether it has been accepted for medical use.

The review also examined if available scientific literature supported the medical use of marijuana, with federal health officials acknowledging that many states in the country had legalized the medical use of cannabis. They also noted that some medical marijuana programs had been around for a couple of years.

With regard to effectiveness, the memo stated that the biggest evidence for efficacy existed for cannabis use within pain indications, particularly neuropathic pain.

The U.S. Food and Drug Administration (FDA) also carried out a review noting that it didn’t find support for cannabis providing benefit for anxiety or epilepsy. The review did, however, determine that there was a risk linked to treating post-traumatic stress disorder with cannabis. The agency also highlighted that, in general, there was inadequate quality clinical data supporting the use of cannabis for post-traumatic stress disorder.

In the matter of marijuana’s safety in comparison to other drugs, the review argued that the risks to public heath posed by cannabis were low in comparison to other abused drugs, including benzodiazepines, cocaine and heroin. The review called attention to the fact that cannabis ranked the lowest for overdose deaths, as compared to other substances. The released documents also revealed that the National Institute on Drug Abuse supported the agency’s review.

It is important to note that even if the DEA accepted the health department’s recommendation to reschedule cannabis, the drug would still not be legal under federal law. However, its rescheduling would allow state-legal marijuana businesses to claim federal tax deductions. At the moment, these businesses aren’t permitted to do so because of Section 280E of the Internal Revenue Service code.

Entities in the industry, such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), will be hoping that the rescheduling of cannabis at the federal level paves the way for further regulatory reforms as the years go by.

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420 with CNW — DEA Informs Congress It Has Final Say on Cannabis Scheduling Despite HHS Recommendation

The U.S. Drug Enforcement Agency (DEA) has asserted its ultimate authority in determining the scheduling of cannabis, regardless of the recommendations made by the U.S. Health and Human Services. Michael Miller, the DEA acting chief of the Office of Congressional Affairs, communicated this stance in a letter addressed to Representative Earl Blumenauer, cochair of the Congressional Marijuana Caucus.

The scheduling review process, initiated by President Joseph Biden in October 2022, commenced with a scientific assessment from the HHS. The assessment purportedly advised the DEA to reclassify cannabis from Schedule I to Schedule III of the Controlled Substances Act (CSA). After HHS provided its recommendation in August, the DEA proceeded with its independent review.

The DEA’s response was prompted by an earlier letter from 31 bipartisan legislators, led by Blumenauer, urging the DEA to consider the merits of legalization during the review. The lawmakers expressed concern about the limitations of placing marijuana in Schedule III rather than completely removing it from CSA control. They emphasized the urgency of full descheduling and criticized the outdated scheduling of cannabis, which they deemed incongruent with the public’s sentiment.

In its reply, the DEA refrained from addressing the lawmakers’ arguments and focused on the procedural details of the scheduling review. The timeline for completing the review remains undisclosed, though speculation suggests a conclusion before the November election.

The Congressional Research Service (CRS) suggested that, based on past precedent, the DEA would likely follow HHS’s recommendation. However, the DEA reiterated its final jurisdiction over the CSA, retaining the authority to disregard HHS advice.

Despite the controversy surrounding the rescheduling review, little is known about HHS’s justification for recommending Schedule III. The agency submitted extensive documents to the DEA, but those documents have been released in highly redacted form, offering scant insight into the health agency’s findings on medical benefits, addictive potential or other policy aspects.

The DEA has received input from various stakeholders, including 29 former U.S. attorneys, urging the preservation of Schedule I. Six governors and former DEA heads voiced opposition to HHS’s recommendation, highlighting the complexity of the marijuana policy debate.

Lawmakers and advocates supporting marijuana reform marked the one-year anniversary of Biden’s cannabis pardon and scheduling directive by urging further action. Two GOP senators introduced legislation to prevent federal agencies from rescheduling cannabis without congressional approval.

Simultaneously, a coalition of 14 GOP legislators urged the DEA to reject HHS’s recommendation and maintain the strictest categorization for cannabis under the CSA.

Actors in the marijuana space, such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), are eagerly waiting for the decision that the DEA will make on cannabis classification under the CSA.

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420 with CNW — New York Publishes Sample Job Descriptions to Help Employees, Companies in Legal Cannabis Industry

The state of New York’s labor department recently published sample job descriptions for various positions in the marijuana industry. Their intention is to allow prospective employees to evaluate their qualifications to work in different roles in the growing industry while also helping firms streamline hiring processes.

In a statement, a representative of the department said that marijuana’s legalization had created significant opportunities, and the department of labor was committed to supporting businesses as well as those seeking employment in the state as the industry continued to expand. The department began posting the sample descriptions earlier this month. They include example positions in delivery, cultivation, retail, and product manufacturing and hospitality as well as sampling and testing jobs.

Some positions are entry level, such as managing retail inventory or trimming, while others require skilled individuals for roles such as cannabinoid extraction, management or laboratory testing. The job-description samples are posted on the department’s Cannabis Career Exploration site and are meant to be used as education resources for those seeking employment. The website also includes a page on how to find cannabis jobs and links to marijuana education opportunities.

The department also released a statement noting that this online resource was put together to help New Yorkers explore working in the marijuana industry. It further noted that the resource would also help those seeking employment to evaluate their skills to find a focus area and determine what education or training they would need to succeed in their chosen careers. The department then added that the resources could be used as a starting point for businesses as they start hiring their workforce.

The sample postings come just weeks after the state’s Supreme Court lifted an injunction that prohibited state cannabis regulators from processing new retailer licenses. This move will allow the New York marijuana market to expand significantly.

In a press release, the Cannabis Control Board’s chair Tremaine Wright stated that the decision brought relief to hundreds of those with provisional licenses whose businesses had been sidelined. Wright then noted that the board remained focused on upholding a transparent and fair process as it continued to support and grow the state’s marijuana industry.

New York Governor Kathy Hochul also wrote on social media that the decision by the supreme court meant there should be more places to buy tested, safer and legal marijuana stores would launch faster. Currently, however, there fewer than 30 licensed retailers for adult-use cannabis in the state.

It is expected that the court’s decision will also reduce the number of illicit operators in the market, who currently make up a significant fraction of the marijuana market.

Marijuana industry actors elsewhere, including group leader Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), are likely to welcome the steps that are being taken to get the industry finally going in New York State since the state has faltered several times in its attempts to roll out regulated sales.

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