In order to further the development of the Cannabis Regulatory Agency’s Social Equity Program, following months of discussions with industry stakeholders and Social Equity Program participants, the Cannabis Regulatory Agency (CRA) announced today the formation of the Social Equity Grant Program.
“Many of our social equity licensees have invested everything they have in their cannabis business, and they truly deserve this shot in the arm,” said CRA Executive Director Brian Hanna. “I’m excited to see how our licensees use these funds and the positive impact they can have on their employees and their communities.”
"I was honored to spearhead social equity funding in the state budget this year,” said Sen. Sarah Anthony (Lansing). “I know how important funding is for individuals who are participating in the cannabis industry but may not have the same resources as others. It is vital that we begin the process to help those who have been disproportionately impacted by cannabis prohibition. These funds will go a long way in helping those in the social equity space grow their businesses and give back to their communities.”
Social Equity Grant Program funds must be spent in one or more of the following categories:
- Funds spent on employee education may be used for an employee of the entity to take one or more classes or courses that are relevant to the entity’s business from an accredited institution.
- Funds spent on business needs may be used towards compliance with licensing and regulatory statutes and rules.
- Funds spent on community investment may be used on or donated to organizations, non-profits, and/or charities that positively impact the community in which the entity is located.
To be eligible to participate in the Social Equity Grant Program, entities must have a valid CRA-issued adult-use license, must currently have eligible Social Equity Program participants who have majority ownership of the entity, and must be a certified participant in the CRA’s Social Equity All-Star Program.
The application window for the 2024 Social Equity Grant Program runs from December 1, 2023 through January 26, 2024. The completed grant application must be received by the CRA via email no later than 5:00 pm on January 26, 2024. The application and instructions can be found on the CRA website.
Only one grant will be awarded per qualifying entity, regardless of how many licenses the entity has. Once it is determined how many applicants meet the criteria for approval, then each approved grantee will receive an equal share of the available one million grant dollars. [Example: 100 grantees = $10,000 per grantee.]
The CRA has scheduled an education session regarding the Social Equity Grant Program for Thursday, December 7th at 10:00 AM. The education session information is available on the CRA’s website and will also be available for replay as needed.