The Executive Office of Economic Development is pleased to announce the launch of the “Immediate Needs Grant Program,” the inaugural program that will provide financial assistance from the state’s Cannabis Social Equity Trust Fund.
The first of its kind in Massachusetts, this new grant program will make $2.3 million available for cannabis entrepreneurs from communities that have been disproportionately harmed by marijuana prohibition and enforcement. The program aims to increase equity and opportunity within state’s regulated marijuana industry. EOED plans to launch additional programs later in 2024 to further support social equity in the cannabis industry.
The Legislature enacted the enabling law for this program in August 2022. As part of the FY23 closeout supplemental budget enacted in November 2023, the Healey-Driscoll Administration partnered with the Legislature to resolve technical issues affecting the funding mechanism. EOED administers the fund in consultation with the Cannabis Social Equity Advisory Board.