Two social equity groups that were supported by branded cannabis products wholesaler Cresco Labs’ SEED community business incubator recently were granted new cannabis conditional adult-use dispensary licenses by the state of Illinois.
The license awards went to Parkway Dispensary LLC and Navāda Labs LLC. They are part of the 185 new licenses recently issued by the state on July 22 to social equity applicants under the Cannabis Regulation and Tax Act.
“We’re thrilled for all new Illinois cannabis business owners who finally have the opportunity to get their businesses up and running. We’re also incredibly proud of our Cresco Labs team members who—through our SEED Community Business Incubator—assisted social equity groups with their license applications,” Cresco Labs CEO and Co-Founder Charlie Bachtell said. “The issuance of an additional 185 retail licenses is the result of years of hard work and patience and marks a game-changing moment for inclusiveness and social justice in cannabis.”
Bachtell said this historic initiative will help to further diversify the cannabis industry, provide more customers with access to top quality cannabis products, and serve as a catalyst for the continued industry growth.
SEED’s Community Business Incubator will continue to provide essential services and support to Parkway Dispensary, Navāda Labs and other social equity groups issued licenses through Cresco’s Illinois Cannabis Education Center.
Seminars, workshops and networking events featuring subject matter experts will aid social equity groups with business plan refinement as well as enactment of business plans, site construction and launch operations.