DENVER – This past weekend marked 3 years since the City of Denver launched it’s marijuana social equity program aimed at helping residents with previous marijuana convictions, or who were disproportionately impacted by the war on drugs, launch their own marijuana businesses.
“One of the areas that became a huge focus for Denver, was trying to make sure that there's more opportunities for those who were most disproportionately negatively impacted when marijuana was illegal.
"For them to have the opportunity to benefit financially, economically, and hopefully, it can be a positive change to help them overcome some of the negative things that happened to them,” said Eric Escudero, spokesperson for Denver’s Department of Excise and Licenses. “So we're really proud of the fact that we hit a major milestone in the last week. We issued the 50th license from the City and County of Denver to an owner who qualifies as a social equity business person for marijuana. That's a huge number, and we're really proud of that.”
But Escudero said he recognizes this milestone comes at a difficult time in the marijuana industry.
“When you look at the marijuana market right now in Denver, it's really the first marijuana recession in some ways, because we've seen legalization spread across the United States," said Escudero.
He added that with fewer people coming to Colorado and other cities in the state opting-in, the number of people buying marijuana in Denver has dropped.
“But we also recognize there are some folks who have got the license and then closed...so we've seen now about 45 total, with 50 now awarded since the beginning of the program," said Escudero.
Beatrice Carranza, the owner of Bachaz, recently received her cannabis business license through Denver’s social equity program.
“Bachaz is a Hispanic brand built out of the core values of family, authenticity, passion, and care,” Carranza said. “So what we're going to be starting off manufacturing are THC Mexican infused gummies — they are handcrafted, they are covered with tamarind and carefully sprinkled with our chili flakes to give that flavorful taste.”
Carranza said she created the products with the Latino community specifically in mind.
“I've noticed that we've had the repetitive, edible product in our market,” Carranza said. “There's also still a lot of room for growth, innovative products coming into the industry.”
Carranza said the program has been helpful in bringing her innovative product to the market.
“When we started this process two years ago through the social equity program available to the people affected by the war on drugs. Us coming with that background, it was really difficult for us to even get employment, stable housing. So seeing this opportunity now that we are able to come into the cannabis industry, because before we didn't have it, we were pushed to the back when it's just started, was great," Carranza said.
Carranza said she’s hopeful Bachaz and the products she's created will give her the edge she needs to remain competitive in the marijuana industry.
