Saturday, January 6, 2018
Two major news sources have run two major recent pieces about efforts in California to enhance minority participation in the marijuana industry:
From the Washington Post here, "California cities try to atone for war on drugs with help for minority marijuana entrepreneurs." An excerpt:
At least four California cities — Los Angeles, Oakland, Sacramento and San Francisco — have created “equity programs” to help people personally affected by the war on drugs or who come from communities that bore the brunt of it get an early stake in the legal cannabis business.
The goal is to attempt to atone for past policies that perpetuated generational poverty and to diversify an industry whose profile is overwhelmingly young, white, male and wealthy. “The folks who are profiting don’t look anything like the people bearing the brunt of the war on drugs,” said Greg Minor, who runs Oakland’s cannabis program.
From the Los Angeles Times here, "Despite helping hand from L.A., drug offenders would face obstacles in cannabis industry." An excerpt:
As California’s legal cannabis industry heats up, officials in Los Angeles and other cities say they want to make sure early players in the pot business who were selling it when it was still illegal aren’t pushed out of the market. In Los Angeles and Oakland, city cannabis rules provide for so-called social-equity programs, which provide a leg up to marijuana business license applicants who either have been convicted of a marijuana crime or live in neighborhoods disproportionately affected by marijuana arrests.
But many of the entrepreneurs who might benefit from those programs would face a huge obstacle: Most banks won’t open accounts for marijuana businesses, and the few institutions that are willing to do so are likely to refuse to serve businesses whose owners or managers have criminal records, even if those records are for selling marijuana.