NYS Legalization of Cannabis Opens a Wide Door of Future Opportunity for the Retail Market

Although it is estimated that dispensaries and lounges won’t be able to open until 2022 at the earliest, while New York State’s newly formed Office of Cannabis Management establishes the regulation framework, the potential of new future opportunity is significant for New York’s retail market. According to a report prepared for the New York Medical Cannabis Industry Association by MPG Consulting, it is estimated that the New York State cannabis market will be worth $4.6 billion a year by 2023, with about 350 retail licenses expected to be issued; and by 2027 the numbers are expected to grow to $5.8 billion and 900 licenses and generate a total economic impact that could be upwards of $10 billion.

Source:    https://therealdeal.com/2021/04/20/how-legal-cannabis-will-shake-up-nys-retail-landscape/