NEW YORK, United States – New York City’s Mayor, Eric Adams and Governor Kathy Hochul, in celebration of international cannabis day (4/20), have outlined the economic benefits of supporting the cannabis industry and have proposed that the city spend $4.8 million to reach out to those most impacted, especially minority entrepreneurs impacted as a result of past usage.

In an article published by the NY Daily News, the Mayor and the Governor explained that the plan would help persons in the cannabis industry learn more about the sector and assist in setting up their new small businesses.

“The cannabis industry could be a major boost to our economic recovery — creating new jobs, building wealth in historically underserved communities, and increasing state and local tax revenue,” Adams said.

The announcement coincided with April 20 — also known as 4/20 — the date known for celebrating marijuana,” the article stated, highlighting that Governor Hochul used Wednesday as a “hook to launch a public service ad campaign to inform New Yorkers about the benefits of legal marijuana and building the Empire State as a global centre for the weed trade.”

“Part of us building the strongest cannabis industry in the nation is making sure New Yorkers have relevant facts at their fingertips,” Hochul said.

Mayor Adams’ economic blueprint, according to the New York Daily News, indicates that the cannabis industry will generate nearly $1.3 billion in sales this year alone and create around 20,000 jobs within three years. It calls weed a significant driver of the city’s recovery from the COVID pandemic.