Medical marijuana dispensary to open in Valley Stream
The future home of the Rise medical marijuana dispensary on Sunrise Highway, just outside Green Acres Mall in Valley Stream. Credit: Jeff Bachner
State regulators gave Fiorello Pharmaceuticals Inc. permission to open a medical marijuana dispensary in Valley Stream, a move that would bring a sixth such shop to Long Island.
The Cannabis Control Board, which approves industry policy and licenses, voted last week to permit a medical shop at 460 W. Sunrise Hwy. in Valley Stream.
Fiorello, one of a handful of companies authorized to provide medical marijuana products in New York, was purchased for about $60 million by Green Thumb Industries, a Chicago-based firm, in 2019, according to the trade publication MJBizDaily. In New York, Green Thumb Industries does business as FP Wellness and operates under the Rise Dispensary brand name, with locations in Manhattan and upstate Henrietta and Clifton Park.
Fiorello didn't respond to Newsday's requests for comment or questions about when the dispensary may open.
Medical dispensaries that meet regulations for recreational locations will be able to start selling to the general public late this year.
But the five existing medical dispensaries and the new Valley Stream store are all located in areas where recreational vendors are not allowed. They're either in localities that opted out of having pot shops or in areas where zoning doesn't allow a recreational dispensary.
Roughly 40 firms have licenses to open recreational dispensaries on Long Island, but just one has opened — Strain Stars in East Farmingdale. Most licensees have struggled to find storefronts that abide by local rules.
When New York State legalized medical marijuana in 2014, regulators granted licenses to organizations that were prepared to grow, process, package and sell medical marijuana. Now that recreational marijuana is legal and licensed under separate regulations, the state is prohibiting most companies in the recreational sector from having a hand in both the supply and retail sides of the business. Registered medical marijuana organizations like Fiorello — which are mostly large, publicly traded firms — and small "microbusinesses" are exempt from this restriction.
New Yorkers who have a certificate from a medical professional allowing them to buy medical marijuana may choose to stick to those shops. Patients do not pay sales tax, whereas recreational sales carry a 13% tax. Patients can also buy up to 60 days' worth of supply at once, while consumers are limited to 3 ounces of the smokable flower of the plant or 24 grams of cannabis in a concentrated form.
Medical vs. recreational pot sales
- New Yorkers need a certificate from a medical professional to shop at a medical dispensary, whereas anyone can shop at a recreational store.
- Medical sales do not require a sales tax, while recreational consumers pay a 13% sales tax.
- Patients can buy up to 60 days’ worth of supply at once from a medical dispensary, while recreational users are limited to 3 ounces of flower or 24 grams of concentrated cannabis.
- New Yorkers with a medical certificate can buy seeds and plants to grow at home, which is not yet permitted for recreational users.
Sarina Trangle covers affordability and cost of living issues and other business topics. She previously worked as an editor and reporter at amNewYork.
