The CEOs of some of the biggest cannabis companies in the US say Northeastern states like New York and New Jersey are going to see the most industry action in 2022, reports Insider.
New York state of mind
Even though New York won’t initiate adult-use sales until 2023, several MSOs are preparing to reach the massive demand. Green Thumb Industries, Cresco Labs, Curaleaf and Columbia Care are all allocating resources in the state.
“…we’re putting our money where our mouth is by allocating the capital,” said GTI CEO Ben Kovler.
Midwestern MSOs
Companies like Ayr Wellness, Cresco Labs and Curaleaf are also working to grow market share in new midwestern markets like Illinois and Michigan.
“We’ve spent years developing [a northeastern presence], very intentionally creating that very strategic footprint,” said Cresco’s Charlie Bachtell.
More emerging markets
MSO execs are also eyeing newly legal, emerging markets in Washington, DC, New Jersey, Connecticut and the potentially soon-to-be legal market in Pennsylvania.
But don’t expect “big mergers,” warns Insider. Instead, CEOs say they’re going to pick up retailers and cultivation facilities to grow within legal states.
AND, Business of Cannabis is also following closely what’s happening in the US. Join us this Thursday for Business of Cannabis: New York Sessions sponsored by Curaleaf – join us.
