Michael McQueeny’s Post

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Partner at Foley Hoag LLP / Co-Chair Cannabis Practice Group / Professor of Cannabis Law and Policy

There have been changes announced this week to the Executive Directors of both the New York and New Jersey cannabis programs this week - and the reasons and context surrounding those changes couldn’t be more drastically different. Both markets have their unique problems and opportunities, and both are at cross roads following these leadership changes. Both agencies are focused on the next phases of the market, and I believe both states have reasons for optimism. The New York and New Jersey markets have, for years, been perhaps unfairly described as competing with one another. Maybe the worst example of that was barbs by each agencies’ social media handles when New York opened its first store on December 29, 2023, at a time when New Jersey had opened several dozen. In this moment, notwithstanding delays in both states, they have relatively evened in the number of licensed facilities opened. One could argue that New Jersey has implemented more thoughtful regulations and statutory amendments to incentivize investment into fledgling operators; whereas New York, at times, has crafted an overly complicated, rigid, and restrictive framework assessing who is a true party of interest, implementing complex analyses of who is perceived to have what undue influence, based on what number of otherwise ordinary commercial terms. Both states, however, are still in their early phases of adult-use, and do well to remember that regulations should only be as onerous as necessary to protect both businesses and consumers. For everything else, the calculus has to be focused on what needs to be done to get more investment into facilities working their hardest on opening, or, once opened, those facilities fighting their hardest to remain open in trying times. https://lnkd.in/eaE_ZHMm

N.Y. cannabis director out as Hochul announces 'overhaul' of troubled office

N.Y. cannabis director out as Hochul announces 'overhaul' of troubled office

timesunion.com

Mat Cleary

Strategic General Counsel | Expert in Corporate Strategy, M&A, Regulatory Compliance, and Regulatory Affairs | Proven Leader in Business Expansion and Risk Mitigation

8mo

After everything we have seen with this rollout, it frankly wouldn't feel excessive to toss out the entire leadership team that led New York down this path. There are literally dozens of states to use as a reference to patch together a successful cannabis rollout and for whatever reason, New York decided it wanted to reinvent the wheel as a square...

Juliana Whitney

Cannabis Business Operations & Performance Consultant + Founder @Cann Strategy | Cannabis Hall of Fame Advisory Board Chair | • License Applications, Operations, and M&A Operations Integration ••• HQ: FL+NV

8mo

Thank you for sharing this.

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Juliana Whitney

Cannabis Business Operations & Performance Consultant + Founder @Cann Strategy | Cannabis Hall of Fame Advisory Board Chair | • License Applications, Operations, and M&A Operations Integration ••• HQ: FL+NV

8mo

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