Danville sees more cannabis dispensary conditional licenses
Jul. 26—CHICAGO — Illinois Gov. JB Pritzker and the Illinois Department of Financial and Professional Regulation (IDFPR) issued 149 Conditional Adult Use Dispensing Organization Licenses to applicants selected in three lotteries conducted in the summer of 2021.
Two licenses are in the Danville/Vermilion County region for: Mariworks LLC and Parkway Dispensary, both Chicago-based.
All businesses qualify as Social Equity Applicants under the Cannabis Regulation and Tax Act.
Of the businesses selected through the lottery, 41% are majority Black-owned, 7% are majority White-owned, and 4% are majority Latino-owned, while 38% of awardees did not disclose the race of their owners.
The release of the licenses marks the first issuance of Conditional Adult Use Dispensing Organization Licenses since Illinois legalized cannabis for adult use under the Cannabis Regulation and Tax Act in 2019.
The businesses awarded Conditional Licenses will have 180 days to select a physical storefront location and obtain the full Adult Use Dispensing Organization License. If a Conditional Licensee is unable to find a suitable physical location within the 180-day period, they may request an extension of 180 days. Once issued an Adult Use Dispensing Organization License, a business may begin purchasing and dispensing adult use cannabis.
"Since 2019, we have worked diligently to ensure communities disproportionately harmed by cannabis prohibition and discriminatory law enforcement are included in the adult-use cannabis industry," said Senate Majority Leader Kimberly A. Lightford (D-Hillside). "With the release of 123 Conditional Adult Use Dispensing Organization Licenses, Illinois has become a frontrunner in cannabis minority ownership and will continue to drive social equity, social justice and inclusion into the marketplace."
"Illinois is well on its way to increasing equity in the state's cannabis industry with the issuing of the conditional adult use dispensing licenses," said State Representative Sonya Harper (D-Chicago). "I look forward to following the successes of our new businesses and continually working to ensure equity in the industry."
"The release of these licenses means a transformation of the retail side of Illinois' cannabis industry, creating more opportunities for individuals from all backgrounds to reap the benefits of legalization as employees and ancillary service providers," said Mario Treto, Jr., Secretary of the Illinois Department of Financial and Professional Regulation.
Through a separate program administered by the Illinois Department of Commerce and Economic Opportunity (DCEO), Illinois offers low-interest loans to qualified licensed companies through its Social Equity Cannabis Loan Program. The first round of social equity license applicants are expected to finalize loan agreements directly with DCEO's partner lending institutions in the coming weeks. The next phase of the loan program will be launched in the near future.
DCEO also funds free licensing and post-licensing technical assistance through their partners at Oakton Community College, The Trep School in Danville, the Women's Business Development Center, and the University of Illinois Chicago Law School.
