New York for Cannabis! The state will give funds to universities to promote their training

New York for Cannabis! The state will give funds to universities to promote their training

New York bets a large investment on the cannabis sector after its legalization.
New York bets a large investment on the cannabis sector after its legalization.

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.

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.

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.