Colorado is forming a new state agency, the Cannabis Business Office, designed to provide more governmental support to marijuana companies, particularly social equity entrepreneurs.
The new department, announced Wednesday by Colorado Gov. Jared Polis, will dole out loans and grants to social equity cannabis entrepreneurs and provide technical assistance to MJ business owners.
The Cannabis Business Office will be an arm of the Colorado Office of Economic Development and International Trade.
The agency was created just this year by the Colorado Legislature with the passage of Senate Bill 111.
In a statement, Polis said the creation of the department is part of his overall goal of making Colorado a national cannabis industry leader.
“The Cannabis Business Office shows our administration’s focus on growing this thriving industry that supports jobs and our economy,” the governor said.
“This office will offer tools like technical help and improve access to money for businesses. Where the federal government has fallen behind, Colorado will lead.”