Capitalizing on Cannabis

September 24, 2014
Natalie Abruzzo

MANHATTAN — In July, Gov. Andrew Cuomo signed the Compassionate Care Act, making New York the 23rd state to allow the medical use of marijuana.

The drug is available for medicinal purposes under specific circumstances. Although pricing is still being established, early estimates for the state’s piece of the pot pie range from $100 million to $500 million within the first year.

With a limited number of growers’ licenses up for grabs, medical marijuana proved a hot topic at a forum sponsored by Crain’s New York Business.