Cannabis Equity Programs Awarded Millions by State

Cannabis Equity Programs Awarded Millions by State

INGLEWOOD, CA –Yesterday morning the Governor’s Office of Business and Economic
Development (GO-Biz), in partnership with the Bureau of Cannabis Control, announced $30
million in grant funding through the Cannabis Equity Grants Program for Local Jurisdictions.

Los Angeles will receive $6,042,014.23 in funding from the Program to support individuals in
California’s legal cannabis marketplace who are from communities negatively or
disproportionately impacted by cannabis criminalization.

Senator Bradford authored the California Cannabis Equity Act (SB 1294), the catalyst for this
weeks’ funding, which was designed to assist equity applicants and licensees by providing
professional job training, aid with technical and regulatory compliance, and assistance in
obtaining loans and securing capital investments.

“California has always been a national leader on many issues – by including people of color,
those with diverse backgrounds and individuals who have been most impacted by marijuana
criminalization, we will continue to be at the forefront” said Bradford. “I look forward to
continuing my work to not only help reverse the damaging impact of the war on drugs, but also
the general implicit racial bias that exists within all sectors of our economy.”

The City of Los Angeles is one of a dozen jurisdictions throughout the state that was awarded
grants to assist with funding their local social equity programs. The City plans to use the funds
to provide verified Social Equity Program Applicants various resources such as Workforce
Development and Business Development Services. Specific information on how the City of Los
Angeles will funds awarded through grant programs will be available July 1, 2020.

Under Governor Newsom’s stay-at-home order, California’s cannabis industry was designated as
an essential business, allowing legal cannabis retailers to continue serving the public responsibly.

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Senator Bradford represents the Los Angeles County communities of Carson, Compton, Gardena,
Harbor City, Hawthorne, Inglewood, Lawndale, Lennox, San Pedro, Watts, Willowbrook, and
Wilmington