Michigan's $1M Social Equity Cannabis Grant Program Is Underway, Here's How To Apply

Michigan's Cannabis Regulatory Agency (CRA) recently launched a $1 million social equity grant program aimed at supporting businesses that have been impacted by cannabis prohibition.

Since its commencement on December 1, the initiative has already garnered 11 applications, offering a glimpse into its potential impact, reported the Detroit Free Press.

See Also: Michigan's 'Unrestricted But Limited' Cannabis Market Surges, Say Experts

Anshu Varma, communications and grants division director for the CRA, provided key insights, stating that each approved applicant would be eligible for approximately $91,000 from the allocated fund if no additional licensees submit applications.

With 81 licensees currently enrolled in the CRA's Social Equity All-Star Program, Varma said that if all are eligible and apply, each applicant could receive an estimated grant of around $12,300.

Program Objectives

The social equity grant program aims to achieve three primary objectives:

• Business Compliance: Enhancing adherence to regulatory standards within the cannabis industry.
• Employee Education: Supporting educational initiatives for cannabis business employees to promote skill development and industry knowledge.
• Community Investment: Encouraging businesses to invest in and positively impact the communities where they operate.

Eligibility Criteria

Entities seeking to benefit from this grant must meet specific eligibility criteria:

• Possess a valid adult-use cannabis license issued by Michigan's CRA.
• Be majority-owned by participants in the state's Social Equity Program.

How to Qualify

To qualify, businesses must hold a valid adult-use cannabis license and have a majority ownership by participants in Michigan's Social Equity Program.

Application Deadline And Distribution Timeline

The application window for the social equity grant program is open until January 26. The CRA plans to distribute the funds to successful applicants by March 15, 2024. Recipients will then be required to certify the appropriate use of funds by September 2024, ensuring transparency and accountability.

How to Apply

Businesses interested in benefiting from this initiative can submit their applications online here. For any queries or additional information, the CRA encourages contacting them via email.

Stay informed about Michigan's evolving cannabis landscape and the impact of initiatives like the social equity grant program at Benzinga.

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