One in 10 investors pumping money into Maryland’s medical marijuana industry are minorities, again highlighting the overwhelming stakes held by whites in the cannabis sector.
The Capital News Service reported that the data, which comes from the state Medical Cannabis Commission, also shows that the few minority investors who do exist in Maryland tend to hold smaller ownership stakes than their white counterparts.
The data emerged from the commission’s Annual Report on Minority and Women Owners and Employees, which requires information from licensed MMJ companies by June 1 annually.
Other findings included:
- Green Leaf Medical, which has 34 black investors, the most of any MMJ company in Maryland, is only 21% owned by all those black investors combined.
- Just four of 26 licensed cultivation or processing businesses are owned by women or minorities. Those are HMS Health, Seven Points Agro, Kind Therapeutics and Chesapeake Alternatives.
- Only two companies licensed to cultivate or process are owned by minorities: HMS Health and Seven Points Agro.
