Oakland’s Financial Lifeline for Cannabis Retailers: Aiding Security Efforts
Introduction
Do you run a cannabis business in Oakland and find yourself grappling with security concerns? You’re not alone, and the city has taken note. Oakland is allocating $332,000 in state funds to fortify security measures for local cannabis entrepreneurs. This initiative aims to mitigate the vulnerability of these businesses, especially given the exacerbation of crimes against them during the pandemic.
Key Details on The Grant
The grant comes from the Board of State and Community Corrections, an agency that recently declined another Oakland proposal. While the maximum payout per business is still under discussion, the anticipated figure hovers around $15,000. If you’re eager to apply, don’t dilly-dally—the application deadline is October 17 at 5 p.m. The application is here.
The Rising Tide of Security Concerns
Javier Armas, a member of Oakland’s Cannabis Regulatory Commission, underscores the severity of the security situation. He describes the current climate as “horrendous” for business operators. The heightened susceptibility of cannabis businesses is notably due to the cash-heavy nature of operations—thanks to federal banking restrictions.
What Does The Grant Cover?
The city has specified that this grant is available for brick-and-mortar dispensaries, shared-use manufacturing facilities, and businesses operating a “campus-style” property. According to Gregory Minor, deputy director of the Economic and Workforce Development Department, this simplifies the application process and targets businesses most in need.
Is it Enough?
While this grant is a step in the right direction, it is not a panacea. Chaney Turner, another Cannabis Regulatory Commission member, argues that even though the grant can defray some costs, much more is needed. For instance, employing a single security guard could set a business back tens of thousands of dollars annually.
Conclusion
Oakland’s move to financially support cannabis businesses in shoring up their security is both timely and crucial. However, for it to be a game-changer, both the city and the state must explore additional funding avenues. After all, the well-being of these businesses is not just an economic concern, but also a community one.
