Two local black-owned cannabis businesses, Green Box and Green Hop, each received a $30,000 grant today to expand their companies from a fund established by Portland to promote equity in the marijuana industry.
The city set aside $150,000 from cannabis tax revenues to reinvest in minority-owned weed businesses. Green Box and Green Hop are the first two companies to benefit from the grant, which is administered by a non-profit called the NuLeaf Project.
"As a 100 percent bootstrapped company, limited funding has inhibited our growth," says Green Box CEO Adrian Wayman. "The NuLeaf Project grant enables us to leap forward. It's an unbelievable opportunity."
Green Box is a cannabis delivery and subscription service that has been bringing weed to people's doors in Portland for two years. Green Hop is a North Portland dispensary that opened last year and runs an apprentice program for black budtenders who hope to open their own businesses.
Portland established the grants in order to provide investment capital to cannabis businesses owned by people from the communities disproportionately impacted by the criminalization of cannabis.