New York Cannabis Industry Pushes Back Against Proposed Wage Board
A recent survey conducted by FTI Consulting has found that the majority of cannabis licensees in New York are struggling to stay afloat, with 57% reporting net losses in their most recent fiscal year. Despite this, a coalition of cannabis business stakeholders is urging Governor Kathy Hochul to reject a proposed bill that would establish a three-member board to recommend a minimum wage for cannabis workers.
The Safe and Affordable Cannabis for New York Association, which includes cannabis business operators, argues that the survey data shows that wages in the industry already exceed those in other retail sectors in the state. According to the survey, which was based on confidential and anonymized data from licensed cannabis operators across New York, the cannabis workforce is paid more than any other retail sector in the state.
Osbert Orduna, a disabled U.S. Marine Corps veteran and chair of the association, claims that the proposed wage board is driven by special interest groups who would profit from it, rather than a genuine concern for the well-being of cannabis workers. Orduna believes that the bill would put hardworking New Yorkers out of work and drive up retail prices, leading to more customers turning to unlicensed products.
The association argues that the industry is already struggling, with many business operators losing money, and that imposing a minimum wage could imperil the industry further. They are urging Governor Hochul to reject the proposed bill and instead focus on supporting the cannabis industry’s growth and development.
