The authorities of the state of New York announced on Monday that they will deliver funds to public universities to promote the training of workers for their growing cannabis sector, whose use was legalized last year and that the authorities foresee will become a great source of tax income.
In a statement, Democratic Governor Kathy Hochul said that she will allocate 5 million dollars so that the two public universities, the state (SUNY) and the city (CUNY) create or strengthen courses and training programs that serve to accredit qualifications before the local companies in the cannabis sector.
Legalization of adult-use cannabis is about creating opportunities, supporting small businesses & farmers, and righting the wrongs of the past.
Glad to see these applications approved as we continue to build the strongest and most equitable cannabis industry in the country! https://t.co/ju9HLyRtkm
— Governor Kathy Hochul (@GovKathyHochul) July 17, 2022
The funds announced today will be spread across numerous college campuses across the state and are expected to reach some 4,900 students.
In addition, the state Department of Labor and the Bureau of Cannabis Management will help connect businesses and job seekers to these training programs, and once completed, provide market entry support with resume preparation and interviews.
A millionaire investment
Last April, the mayor of New York, also a Democrat, Eric Adams, announced his intention to invest 4.8 million dollars in promoting the cannabis industry.
According to official forecasts, recreational marijuana use in New York is expected to generate $1.3 billion in revenue in its first year and create between 19,000 and 24,000 jobs in 3 years, as well as becoming a notable source of tax revenue in 2025.