Illinois Postpones Approvals For 75 Cannabis Shops

Social equity candidates in Illinois will have to wait for their first cannabis licenses as Gov. J.B. Pritzker decided Wednesday to postpone their issuing for an unspecified period.

According to the Chicago Sun-Times, Pritzker has signed an order suspending the scheduled Friday announcement of the winners of the 75 coveted recreational dispensary licenses due to the COVID-19 pandemic.

The new date of the announcement is to be set by the Illinois Department of Financial and Professional Regulation, or after lifting of Governor's coronavirus-related disaster decree.

"The Pritzker administration remains committed to creating a legal cannabis industry that reflects the diversity of Illinois residents," Toi Hutchinson, Pritzker's senior adviser for cannabis control, said in a statement.

As the coronavirus outbreak unfolded, delays in the process of reviewing applications were inevitable, Hutchinson added. Illinois officials are dedicated to creating a more diverse legal pot industry. 

According to the Illinois Department of Financial and Professional Regulation (IDFPR), more than 85% of approximately 700 applicants were qualified for additional points on their applications due to living in areas with strict drug policies in the past, having previous pot-related convictions or a family member that fits criteria.

Still, some social equity applicants doubt this situation has something to do with coronavirus. They are underlining that existing cannabis stores operated by white majority owners are having a considerable advantage since they were allowed to work during coronavirus pandemic and the stay-at-home order.

Related Links

Chicago Natives Team Up To Form Cannabis Businesses, Offset Inequality

Cresco Labs Terminates Tryke Deal

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisGovernmentNewsRegulationsChicago Sun-TimesCoronavirus
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!


Loading...