Cresco Labs said Parkway Dispensary and NavÄda Labs, both social equity groups supported by the companyâs SEED initiative, received conditional adult-use dispensary licenses as part of the 185 new licenses recently issued by the state of Illinois.
âWeâre thrilled for all new Illinois cannabis business owners who finally have the opportunity to get their businesses up and running. Weâre also incredibly proud of our Cresco Labs team members whoâthrough our SEED Community Business Incubatorâassisted social equity groups with their license applications,â said Charlie Bachtell, CEO and Co-Founder of Cresco Labs. âThe issuance of an additional 185 retail licenses is the result of years of hard work and patience and marks a game-changing moment for inclusiveness and social justice in cannabis. We see this milestone as a win-win-win: itâs a historic initiative in furtherance of diversifying the cannabis industry, it provides more customers with access to trusted, safe, top quality cannabis products, and itâs a terrific catalyst for the continued growth of this very important and powerful economic engine and job creator in Illinois.â
There are currently 110 dispensaries in operation in Illinois. After a year and a half of delays, the state began issuing conditional adult-use dispensary licenses on July 22 to social equity applicants under the Cannabis Regulation and Tax Act. The new licenses will more than double the number of statewide dispensaries.
SEEDâs Community Business Incubator will continue to provide essential services and support to Parkway Dispensary, NavÄda Labs and all other social equity groups issued dispensary and craft grow licenses by the state. Through Crescoâs Illinois Cannabis Education Center, the Companyâs SEED team will regularly host seminars, workshops and networking events with subject matter experts from the organization and community partners to assist social equity groups with refinement and enactment of business plans, site construction and initial launch operations.
