New York to open first legal pot dispensary by year's end

NEW YORK (AP) — The first legal dispensary for recreational marijuana in New York is set to open Dec. 29, marking a long-awaited launch of a cannabis industry that could become one of the country's most lucrative.

Gov. Kathy Hochul announced Wednesday that Housing Works, a minority-controlled nonprofit in Manhattan that serves people with HIV and AIDS, will be the first of 36 recently licensed dispensaries to begin selling cannabis to the general public — even though dozens of illegal shops have been in operation for many months.

The announcement was made one month after the state's Cannabis Control Board took a monumental step in establishing a legal marketplace for marijuana by issuing the first round of licenses. In the coming months, the state is expected to issue an additional 139 licenses, with about 900 applicants waiting to learn their fate.

“The industry will continue to grow from here, creating inclusive opportunity in every corner of New York State with revenues directed to our schools and revitalizing communities," Hochul said in her announcement.