Equity

Denver tries to make amends on equity

By Alex Halperin

Initially Colorado’s REC program lacked provisions for social equity businesses. Now Denver is trying to make amends

The city said that for the next six years it would reserve almost all new licenses for equity businesses. The span is meant to make up for lost time.

Denverite:

“New marijuana licenses for almost all categories, including cultivation and retail, will be reserved for social equity applicants until 2027. Plus, application fees will be waived and overall licensing fees will be reduced. The new measure also eliminates the cap limiting new marijuana businesses in Denver, as well as the lottery that doles them out.”

  • So far, nine social-equity based companies have been approved by the state. Most appear to be Denver-based.