A “new” Cannabis Social Equity Grant Program through the state’s existing Social Equity Trust Fund will make available up to $25 million in grants
It took a long time for the Massachusetts Cannabis Social Equity Trust Fund to get situated—especially for industry stakeholders who watched the bureaucratic process unfold slowly and painfully.
There were times when some close observers felt like it wasn’t going to happen. While lawmakers set up the fund via statute in 2022 to help “entrepreneurs from communities that have been disproportionately harmed by marijuana prohibition,” the lag started to weigh on business owners.
At one point, money for the grant and loan program even got caught up in a political wrestling match. Before that, the fact that nothing had been transferred into the fund even made national news. The whole time, members of the Cannabis Social Equity Advisory Board, which was established to “work with and advise [the Executive Office of Economic Development] on the promulgation of regulations and administration of the Trust Fund,” spoke out about the urgent need for the assistance with so many startups struggling.
After all that waiting, in January 2024 the administering EOED formally announced an initiative to “make financial assistance available to eligible applicants.” Then in April, the fund paid out its first round, with the commonwealth awarding “50 grants to cannabis social equity businesses in 28 communities, totaling $2,350,000.”
And this week, according to a Sept. 24 EOED announcement, the “Healey-Driscoll Administration launched the Cannabis Social Equity Grant Program, a new program through the state’s Cannabis Social Equity Trust Fund within the Executive Office of Economic Development designed to support Massachusetts cannabis entrepreneurs from communities that have been disproportionately harmed by marijuana prohibition and enforcement.”
Don’t get confused—they’re calling it a “new program,” but it’s still through the same trust fund and administered by the same office. We’ll learn more from applicants and those who are familiar with the grant-making apparatus soon. In the meantime, here are the available details from the EOED:
The program will make available up to $25 million in grants to eligible marijuana establishments, medical marijuana treatment centers, and pre-licensed cannabis businesses.
The grant program is available to economic empowerment priority applicants or social equity program participants, including establishments with a provisional or final license issued by the Cannabis Control Commission, as well as cannabis businesses that intend to apply for licensure in the near future. Grant award sizes will range from $25,000 to $500,000 and funding opportunities will be offered in four tiers based on license status and supporting the following goals:
- Tier 1: Entry into the regulated cannabis industry,
- Tier 2: Imminent or outstanding expenses essential to the operation of the business,
- Tier 3: Support for the acquisition of final licensure and commencement of business operations, or
- Tier 4: Funds to improve and expand the business.
The deadline to apply is October 17, 11:59 p.m. ET. Visit the Cannabis Social Equity Grant Program webpage for more information on how to apply.
In a statement, Cannabis Social Equity Advisory Board Chair Keisha Brice said, “Roughly two years ago, my fellow board members and I were sworn in to the very first established Massachusetts Cannabis Social Equity Advisory Board. Under much scrutiny, but with enthusiasm, dedication, and years of experience we committed to partnering with a great team at The Executive Office of Economic Development to shape and influence what social equity should look like, while also helping to shine light on why these types of programs are crucial for the industry and the marginalized people and communities they serve. … Today I can proudly say, that this grant program is a positive result of those efforts and commitment.”
Sen. Adam Gomez, Co-Chair of the Joint Committee on Cannabis Policy, said, “This second round of funding is substantial, reflecting the administration’s concerted effort to address social inequities in the cannabis industry while aiding those who have been affected by its past policing. … I am glad to see that the full funding amount is able to be accessed by these grants, which will support entrepreneurs along each step of their journey towards achieving success in a crowded field. It’s important that we lift these individuals up to ensure they are able to take advantage of the new market, and this grant funding will do just that.”
“Today we are taking an important step toward growing our economy and addressing the harm inflicted on communities impacted by the War and Drugs,” Gov. Maura Healey said. “The Cannabis Social Equity Grant Program will provide vital funding to Massachusetts entrepreneurs and advance our commitment to building an economy that is accessible to all.”
