The incubator program aims to help social equity applicants obtain resources, information, and instruction on how to apply for dispensary licenses in the Illinois cannabis program.
Cresco Labs’ new program has already obtained 35 groups of applicants, or 130 participants in total. This phase one of the program is in the form of seminar teaching classes featuring various industry specialists.
“There are communities all over the state and country that have been disproportionately affected by the war on drugs,” CEO Charlie Bachtell said in a statement. “When the conversation shifts from talking about cannabis for helping with symptoms of epilepsy, to cannabis as a commodity that anyone over the age of 21 can legally buy, it’s imperative we shift, too. As good stewards of the industry, we want to make it as inclusive as possible and providing a pathway to opportunity is simply the right thing to do.”
To become an Illinois Social Equity Applicant one must meet certain criteria such as being a resident in a Disproportionately Impacted Area or have been adjudicated delinquent for any eligible expungement, the company said.
Cresco Labs closed Wednesday’s session at $6.06 per share.