San Jose Standard

The San José City Council has accepted a one-million-dollar cannabis equity grant from the California Governor’s Office of Business and Economic Development. The grant aims to support a new phase of the City’s Cannabis Equity Business Academy, providing assistance to graduates for their business startup and ongoing costs, including legal and regulatory assistance. Graduates will also be eligible for retail cannabis registrations set aside for Cannabis Equity Business Owners.

Will Koch, Deputy Director of Community and Local Equity Grants at the California Governor’s Office of Business and Economic Development, expressed excitement about the grant, stating, “We look forward to this grant providing the technical assistance and funding to support equity in licensing and cannabis business registrations.”

The City of San José’s Cannabis Equity Business Academy, in collaboration with the Enterprise Foundation and the Cal Asian Chamber of Commerce, offers a comprehensive entrepreneurship training program within the cannabis sector. The initiative aims to support individuals disproportionately affected by historical cannabis laws. Nanci Klein, Director of the Office of Economic Development and Cultural Affairs, emphasized the program's commitment to equalizing the playing field in the heavily regulated cannabis business sector.

Frank Louie, Chief Operating Officer for the CalAsian Chamber of Commerce, reaffirmed the organization's commitment to supporting San José's Cannabis Equity Business Academy Program, stating, “We have enjoyed working with all the eligible participants in our cohort, and they continue to impress us with their enthusiasm, dedication, and commitment to pursue their goals to open a licensed cannabis operation.”

San José, with almost one million residents, is known as one of the most diverse large cities in the United States. The city’s Office of Economic Development and Cultural Affairs is dedicated to fostering a vital and competitive economy that increases prosperity for people and companies, providing assistance for business success and connecting employers with trained workers.