A recent study facilitated by the Cannabis Regulation Oversight Office (CROO) indicated that Illinois boasts the highest level of diversity in cannabis business ownership across the United States. An independent review, compulsorily conducted under the Cannabis Regulation and Tax Act (CRTA), analyzed 559 adult-use cannabis licenses, which were awarded to over 400 businesses from the inception of such licensing on January 1, 2020, up through January 31, 2023, as reported by the IDFPR.
The encouraging figures emerging from this disparity study showcase that 59% of dispensary licenses were granted to enterprises owned by minorities or women, a leap from the 21% recorded in the state's medical cannabis sector. When considering all types of licenses, this metric climbs marginally, to 60%. Moreover, minority- or women-operated businesses command 63% of craft grower licenses, 61% of infuser licenses, and an impressive 74% of transporter licenses, as per the IDFPR. Furthermore, representing a commitment to inclusivity, nearly 84% of the State’s Direct Forgivable Loans have been extended to minority- or women-owned businesses.
As stated by the IDFPR, "We’re incredibly proud of our emerging cannabis industry, and we’re fully committed to making this an industry where people most affected by the War on Drugs can start their own business and thrive," Governor JB Pritzker expressed in light of the report’s findings.
