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Independent ‘craft growers’ in Illinois struggle to secure financing for cannabis businesses

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Independent ‘craft growers’ in Illinois struggle to secure financing for cannabis businesses


Saturday, October 28, 2023 3:36PM

Independent 'craft growers' in Illinois struggle to secure financing for cannabis businesses

CHICAGO (WLS) — It’s been four years since lawmakers legalized recreational pot sales in Illinois.

However, many entrepreneurs of color are still struggling to get a foothold in the industry.

The Cannabis Business Development Fund has delivered about $21 million of the $34 million in seed funding it had promised since 2021, according to data provided by the Illinois Department of Commerce and Economic Opportunity. But state records show there are currently 52 social equity dispensaries and 10 independent craft growers in operation. That is only a fraction of the nearly 300 combined licenses the state has awarded to date, and regulators are preparing to inject an additional $40 million into the program.

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Advocates for independent cannabis operators are hoping to pass a list of rule changes during the Illinois General Assembly’s fall veto session.

Illinois Answers Project solutions reporter, Alex Nitkin, joined ABC 7 Chicago to discuss the issue. You can read his full report here.

Copyright © 2023 WLS-TV. All Rights Reserved.



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Illinois

Illinois Center Tomislav Ivisic Officially Eligible for 2024-25 Season

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Illinois Center Tomislav Ivisic Officially Eligible for 2024-25 Season


Tomislav Ivisic, who arrived at the University of Illinois over the summer from Vodice, Croatia, has been ruled eligible to play for the upcoming 2024-25 college basketball season.

The NCAA Eligibility Center completed its review, the university announced Thursday, classifying Ivisic as a sophomore who will have three years of eligibility, and agreeing to his making a financial repayment through a charitable donation as part of his reinstatement.

“We appreciate the NCAA for its diligence, the great work done by our compliance staff and the communication and cooperation between all parties throughout this process,” coach Brad Underwood said. “We are happy for Tomislav that his status has been resolved favorably. He is thrilled to be able to take the court and compete with his teammates. Now that this is behind us, we can move forward and focus on the task at hand, and that’s preparing for the season.”

Before arriving in Champaign, Ivisic had played three seasons of professional basketball for SC Derby in Montenegro, which had left his NCAA eligibility and status for the upcoming season in question. He was awarded a dispensation to play in Illinois’ exhibition game against Ole Miss last Sunday (in which he finished with 12 points, six rebounds and two 3-pointers), but this news effectively clears him for the remainder of the season.

Read the scouting report: Tomislav Ivisic

It’s a significant hurdle cleared for Underwood and the Illini, who are expecting Ivisic to anchor their interior defense and provide both offensive production and mature leadership on a team full of newcomers and characterized by youth.

After Ivisic started and played well in 24 minutes against the Rebels, there’s no reason to believe he won’t be Underwood’s starter at the 5 and – assuming he stays out of foul trouble – play 30 or so minutes a game moving forward, or at least once Underwood settles on a rotation after Illinois’ opening games.

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Illinois

View map: Illinois Nov. 5, 2024, General Election results by county

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View map: Illinois Nov. 5, 2024, General Election results by county


Check the Illinois 2024 Nov. 5 presidential election results here

FILE – In this Oct. 6, 2020, file photo, University of Illinois students walk past a mail-in ballot drop box that sits on the northwest corner of the university’s Quad in Urbana, Ill. (AP Photo/Charles Rex Arbogast, File) (Charles Rex Arbogast, Copyright 2020 The Associated Press. All rights reserved)

Here is an interactive map showing Nov. 5, 2024, General Election results by Illinois county.

—> Click here to view complete General Election coverage.

More interactive election results maps:

Here’s a look at the nationwide results map:


Michigan 2024 General Election Results

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Why are most Illinois schools closed on Election Day?

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Why are most Illinois schools closed on Election Day?


While many students will still attend classes on Election Day next week, most public school students in Illinois won’t be among them.

Under provisions of an amendment to Illinois’ school code, Election Day is an official state holiday for the 2024 election season, meaning that children in K-12 public schools will not be required to attend classes.

The law also holds that any school that doesn’t have instruction on Election Day can be used by local authorities as a polling place.

In addition to public schools, courthouses and other local and state government facilities, including Secretary of State’s Driver’s Services facilities, will also be closed on Election Day.

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Private schools are not included in the terms of the legislation, meaning that students in those institutions may still have class on Tuesday. Universities are also not included, with students in the University of Illinois system still having classes on Election Day.

There have been efforts in the past to make Election Day a federal holiday, but those efforts have not been successful thus far. As a result, many banks, federal facilities including courthouses, and most businesses will be open on Tuesday, according to officials.



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