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News Release – Thursday, July 11, 2024
Independent Disparity Study Finds Illinois Has Most Diverse Cannabis Business Ownership In The Nation
FOR IMMEDIATE RELEASE: Thursday, July 11, 2024 CONTACT: Gov.Press@illinois.gov
CHICAGO – Today, the Cannabis Regulation Oversight Office (CROO) published the Disparity and Availability Study for adult use cannabis licenses in Illinois finding that Illinois currently has the most diverse cannabis industry in the nation. The study, as required by the Cannabis Regulation and Tax Act (CRTA), examined 559 adult use cannabis licenses issued by the State to more than 400 businesses during the study period, which spanned from the start of adult use cannabis sales, January 1, 2020, through January 31, 2023.
The disparity study found the CRTA successfully resulted in license ownership diversity for each license type with new licenses over the study period. Over the study period, 59% of dispensary licenses were issued to minority- or women-owned businesses (compared to 21% for the medical cannabis market). For all licenses issued by the State, that number jumps to 60%. Additionally, minority- or women-owned businesses held 63% of craft grower, 61% of infuser, and 74% of transporter licenses. Additionally, the study found nearly 84% of the State’s Direct Forgivable Loans went to minority- or women-owned businesses. According to this independent review, these demographics make Illinois the most diverse cannabis industry in the nation. Since 2023, IDFPR has conducted another Social Equity Criteria Lottery and issued 55 more conditional licenses, all going to social equity designated businesses.
“We’re incredibly proud of our emerging cannabis industry, and we’re fully committed to making this an industry where people most affected by the War on Drugs can start their own business and thrive,” said Governor JB Pritzker.