Seventeen licensed social equity cannabis companies in Colorado on Thursday were awarded six-figure grants from a pair of state agencies to help them either get operational or expand their business footprint.
The Business Support division of the Colorado Office of Economic Development and International Trade (OEDIT), which has awarded similar grants to cannabis companies since 2022, said in a press release that the grant funds are intended to “support small businesses, bolster the industry, foster equity and diversity in the cannabis industry, and create good-paying jobs for Coloradans.”
The money comes from the state Cannabis Business Grant, which is administered by the Cannabis Business Office. The ongoing grant program has thus far given funds to 75% of the marijuana social equity companies in Colorado and helped create almost 300 jobs and launch 55 businesses, according to the release.
“The grants announced today support Colorado cannabis businesses at every stage of growth, saving small business owners money and creating and retaining jobs,” OEDIT Executive Director Eve Lieberman said in the release.
All of the recipients are licensed social equity operators, meaning they were affected directly by cannabis prohibition at some point, with aid in getting started in the legal marijuana trade intended to be partial reparations.
Startup companies The Fireplace, Puff Tuff Cannabis and Xi Farms each received $25,000.
Early-stage businesses Bachaz, Better Days Delivery, Canna Cabanabus, C’est La Vie Coffee, Gogi Cannabis Delivery, GreenDoor Box, Jungle Feva, Nature’s Transport Service, and The Cannabis Experience each received $20,000.
Established companies EV Jason St, Floraco, N Federal Social, Soiku Bano and The Herbal Cure all received $50,000 apiece.
The money comes from the state Cannabis Business Grant. Read More
