Pasadena Cannabis Incubator Launched

A cannabis business incubator has been organized in anticipation of the city implementing a social equity program for cannabis licenses in the first half of 2022, according to a statement released to Pasadena Now.

Pasadena Incubator would provide funding to social equity applicants granted the city start a social equity program.

Social equity programs aimed at helping Black and Latinos expunge their records and take part in the cannabis industry have faced delays.

The war on drugs led to the arrest of Black and Latinos on cannabis charges dating back to President Richard Nixon’s time in office.

Now many have complained that those people who bore the burden of that policy are being aced out of the legal cannabis market due to high application costs. Locally, it cost $14,000 to apply for a license in Pasadena.

“Obtaining a cannabis retail license is a difficult and expensive process. Preparing a winning application alone can cost $50,000 to $100,000. We will provide qualified social equity applicants with funding and the required business resources including a legal team as well as an investor network and a retail partner to be successful in this industry.”

The incubator expects the Pasadena Cannabis Social Equity Program will recognize and address the long-term impact that federal and state cannabis enforcement policies have had on people living in Pasadena.

“Our organization is designed to identify qualified applicants and support equal opportunity in the cannabis industry by making legal cannabis business ownership and employment opportunities more accessible to individuals and communities most impacted by the criminalization of cannabis,” according to operator Shaun Szameit.

A new ballot initiative would allow more cannabis dispensaries to do business in Pasadena.

The People’s Initiative to Establish Local Ownership of Commercial Cannabis Retail Businesses would change the city’s municipal code to allow 11 cannabis licenses, half of which must be social equity applicants and local residents that have been impacted by the war on drugs, which saw Black and Latino arrested and sent to prison for marijuana charges far more than their white counterparts.

Prospective Pasadena social equity applicants can register to be considered for financial assistance at www.pasadenaincubator.com.

Pasadena Incubator LLC is located at 50 N Mentor Avenue in Pasadena, CA.