New York’s First Cannabis Dispensary

If anyone had any doubts on the marijuana boom and how strong it is, here’s reassurance for them: 23 states, and the District of Columbia, have made medicinal marijuana legal. Furthermore, in January of 2016, New York City’s Union Square will be introducing a medicinal marijuana dispensary to its block.  The dispensary will be on 14th street and in between second and third avenue. Furthermore, the dispensary will be run by a New York City based company that has been lucky enough to obtain one of the state’s five licenses to open a medicinal marijuana shop – Columbia Care. The licenses were distributed in July, and as of right now, they are all moving onto their grand openings.

The tension while the five licenses were trying to be obtained was very evident; 43 companies across the entire nation tried to obtain one, resulting in very steep competition. The licenses limit the companies to just one manufacturing facility and up to four dispensaries. The New York Department of Health decided who were going to receive these licenses. Those chosen are all going to be growing marijuana in New York.

Columbia Care CEO Nicholas Vita stated “we hope to move as closely to a pharmaceutical manufacturing process as we can.”

The other companies receiving the licenses are “Bloomfield Industries, Empire State Health Solutions, Etain and Pharmacannis.”

“The New York program is a symbolic step forward in terms of visibility and awareness,” according to Matthew Karnes, the founder of Greenwave Advisors.

Pharmacannis was a company founded in 2014 by Teddy and Norah Scott and Christina and John Leja, two married couples. Both husbands were lawyers and the wives have worked in marketing and human resources departments.

“There is no doubt that people really see and believe this (legalized medicinal use) is actually working and doing something, but what people are missing is how and why it’s working. That is where we are trying to take this right now. … We can be leaders in the industry for respected purposes,” Teddy Scott said.