Massachusetts Awards Nearly $29M In Social Equity Grants

Massachusetts officials announced Monday that the Executive Office of Economic Development (EOED) is awarding $28.8 million in grants through its Cannabis Social Equity Grant Program, WWLP reports.

Funded by the Cannabis Social Equity Trust Fund, the state’s social equity program supports individuals and communities who were disproportionately harmed by cannabis prohibition enforcement actions. EOED supports these individuals with grants to help launch or expand state-legal cannabis operations.

Officials said they received 223 social equity grant applications this year. They ultimately awarded 194 grants ranging from $25,000 to up to $300,000.

“The Cannabis Social Equity Grant Program is about turning policy into real economic opportunity. These investments support small businesses at critical stages of growth while helping communities across the Commonwealth benefit from a rapidly evolving industry.” — Economic Development Secretary Eric Paley, in a statement

Lawmakers established the Cannabis Social Equity Trust Fund in 2022, several years after the state’s adult-use cannabis reforms took effect, as a means to encourage participation in the industry among those who were most harmed by prohibition.

State Sen. Adam Gómez (R), who co-chairs the Joint Committee on Cannabis Policy, said the equity program “represents our continued commitment to building a cannabis industry in Massachusetts that is equitable, inclusive, and reflective of the communities most harmed by the war on drugs.”

The state awarded $26 million in equity grants last year, and $2.3 million the previous year.