Influential as California’s social-equity concept has been in states like Massachusetts, Michigan and Illinois, it’s thus far been best at raising the hopes and dashing the dreams of young entrepreneurs. That’s what happens when government programs are underfunded and expectations get way out in front of bureaucratic realities.
On Tuesday, the Bureau of Cannabis Control shared the details of its funding at the county and municipal levels. Actual benchmarks of how social equity might play out locally can now begin.
MJ Biz Daily/Cannabis Business Times
- Two years in, predatory investing remains a corrupting force. Propped-up “owners” from equity-qualified areas and backgrounds are used to defraud the government. Partnerships in general have been fraught. “The catch-22 is how will you get money from someone and still control your company?” says Marie Montmarquet, co-founder of MD Farms.
- From the $6M the BCC sent to Los Angeles to the $60,000 that Stockton received, the 500-page document details the rationales behind each county’s and city’s award of funds.
- Southern California is being lapped by Northern Cali in its social-equity progress, as evidenced by the embarrassing stickiness of that 4thMVMT lawsuit to Long Beach’s almost perfectly ineffective approach.
MJ Biz Daily/Long Beach Business Journal