A new survey conducted by Siena College Research Institute on behalf of Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading U.S. provider of consumer products in cannabis, finds 57% of New Yorkers favor a faster rollout of legalized cannabis through the expansion of the current medical market compared to legalization proposals that could take 18 months or longer.
According to the survey by the independent pollster, conducted online in February 2021 among 800 New York state registered voters, a majority of New Yorkers (84%) believe that tax revenue from legalization will help New York’s financial situation. As one of the most populated states in the country with more than 20 million residents, a legalized adult-use cannabis industry would bring many jobs to New York, and according to the state’s budget director raise an estimated $300M in annual tax revenue, while also hopefully bringing economic relief and entrepreneurial opportunities to communities most impacted by the war on drugs.
According to the survey, 67% of voters say it is important that the regulation of adult-use cannabis ensures racial, ethnic and gender diversity in the industry and 69% of participants say it is important that the rollout of adult-use cannabis positively impacts communities that have seen the most impact from the war on drugs. In addition, 58% of New Yorkers support directing a portion of cannabis revenue into a community reinvestment fund to benefit communities most affected by past marijuana criminalization.
“New York has the potential to be one of the most vibrant cannabis markets in the U.S., and proposals to legalize adult-use need to be focused on ensuring that the state can achieve considerable tax revenue, job creation, and social equity benefits as soon as possible – not waiting until 2023. We’ve seen other states successfully build their adult-use programs in order to accelerate these benefits and it’s clear that voters in New York want to see the same thing happen here,” said Joe Bayern, CEO of Curaleaf. “It’s also critical that the adult-use market creates a fair and equitable industry for all, which includes making sure no one is precluded from employment and business opportunities as the industry evolves.”
Curaleaf, one of the largest medical operators in New York employs over 210 team members at its four dispensary locations and one cultivation center. As part of its Rooted In Good initiative, Curaleaf has made a nationwide commitment to ensure that 10% of all 2021 new hires are from populations of people touched most by prior cannabis related offenses. As part of its national Rooted In Good program, the Company has also committed to doing business with 420 new cannabis brands, ancillary suppliers and advocacy organizations from underrepresented communities in the cannabis ecosystem by the year 2025.
In addition to findings that support an accelerated and equitable adult-use market, the Siena survey also finds that:
- A majority on New York state voters believe cannabis is safe and, in many cases, can be helpful in promoting wellness (72%)
- At a rate of 65% New Yorkers agree that with adult-use recreational marijuana legal in many states including Massachusetts and New Jersey, there´s no good reason for New York not to legalize
- 57% of New Yorkers approve of the way medical marijuana dispensaries are being operated in New York (with 31% having no opinion)
- 57% of New Yorkers prefer to license medical dispensaries for adult-use sooner in order to facilitate a quicker rollout
- 78% of New Yorkers believe it is somewhat or very likely that cannabis will be legalized in 2021
For the crosstabs, visit https://scri.siena.edu/wp-content/uploads/2021/03/Curaleaf-Study-Crosstabs.pdf. To learn more about Curaleaf and its Rooted In Good program visit Curaleaf.com/social-responsibility
