How to start your
Cannabis Cultivation business
in New York

    Starting a Cannabis Cultivation Business in New York

    New York has a population of around 19.5 million people, making it one of the most lucrative markets in the US for cannabis. In late 2022, the industry is expected to be around $3.1 billion, which is roughly 30% of the whole cannabis industry size in the US.

    Bill S.8084-A/A.9283-A was signed into law on 22 February 2022 by Governor Kathy Hochul. This bill creates a conditional adult-use cultivators license which authorizes eligible growers to obtain a license that allows them to grow cannabis that contains more than 0.3% THC to be used on the adult-use market.

    While the Office of Cannabis Management has made the plan for Cultivators and Processors available, only the details for Cultivators are currently available. Processor information will become available in the coming months.

    Below is a process analysis for all hemp business owners who want to start their cannabis containing 0.3% THC business.

    Legal risk – Know what you can and can not do, while checking the state law, keep an eye on the federal law as well

    Do research about all the penalties, taxes, deadlines

    The complete business will be needed for your license as well

    This should include organization structure and charts, source of fund, ownership and financial disclosure, capitalization tables etc

    Apply for the license by 30 June, 2022

    Know what you can and can not do with this license

    The cannaboid hemp program need to comply with GMP regulations, therefore it would be wise to plan for GMP for this program too

    Cannabis is a heavily regulated industry and you would need to have a proper quality process in place

    It would be wise to keep an eye on the manufacturing, labelling requirements and be ready for the near futue

    Our advise would would be to take proactive actions for this.

    Below, we outline the requirements to obtain a license as well as important details to consider.

    New York Cannabis Cultivation License Details

    Prerequisite Target market Products allowed Other requirements Documents
    Fee Validity Last date of application Flowering Canopy Limit Artificial lighting limit Application link

    How Profitable Are NY-Based Cannabis Cultivation Businesses?

    You may be considering how much money you can make in the cannabis cultivation industry.

    Marijuana Business Daily stated that most businesses made around $974 per sq. ft. of dispensary space per annum. Additionally, research done by Statista found that average dispensaries could make roughly $1.8 million profit per annum.

    MMJ Business Daily published data stating that annually:

    Some of the biggest New York-based businesses reported the following revenue:

    Etain, LLC – $ 1.5 million
    Citiva Medical LLC – $5.7 million
    Columbia Care NY LLC – $50.2 million


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