Former Citi executive and candidate for New York City mayor, Ray McGuire released a plan to ensure city residents that have been impacted by marijuana prohibition will not be excluded from the financial benefits of legalization, Black Enterprise reports.
The final details of the Marijuana Regulation and Taxation Act are still being talked through by state lawmakers. McGuire though, has already started shaping a framework for the planning of marijuana businesses — also preventing underage use and substance abuse.
McGuire’s plan is to grow equitable cannabis jobs in the city will include:
- Creating a cannabis opportunity fund through his Comeback Bank
- Launching a citywide mentorship and workforce training program for cannabis
- Invest in incubators for cannabis startup companies
- Making affordable space available for cannabis businesses
- Secure passage of the SAFE Banking Act
“Communities of color, specifically Black and Latino communities, have been disproportionately impacted by the criminalization of cannabis for generations,” McGuire said in a statement in the article. ‘It’s important that this landmark law is leveraged to make these communities whole, not only by expunging records for previous convictions, but also by investing substantially in the communities most impacted and ensuring equity in the legal cannabis industry.”
Read the full article here.