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Eric Adams: “Almost a half a million dollars went into [the Cannabis NYC…”

Featuring: Eric Adams, Democratic | Mayor of New York

New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce

Published May 14, 2025 | Video Starts at 06:47

And he didn't have to stand alone. Through sbs, our administration is supporting those entrepreneurs through our Cannabis NYC Loan fund. And as I stated, Almost a half a million dollars went into [the Cannabis NYC Loan fund]. that fund. And we know how important this is as we continue to move forward and open our legal cannabis shops and illegal businesses in this city. (06:47–06:51)

CLAIM

Asserts that nearly $500,000 was allocated to the Cannabis NYC Loan fund.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Eric Adams

“We removed $95 million of illegal cannabis off the streets.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 04:10-04:16
“We were able to close down 1400 illegal cannabis shops.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 04:15-04:23
“Over 160 legal dispensaries open across the five boroughs in legal sales topping $350 million.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 07:02-07:13
“I think we're up to around $18 billion or higher and number of procurement contracts that small businesses have been able to benefit from…”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 21:00-21:15
“We went from illegal items that could be harmful to the community to pizza, good food, good paying jobs.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 03:47-03:56
“We put almost half a million dollars into those startup cannabis [businesses].”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 03:57-04:11
“We broke the record [for more jobs in this city] 11 times.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 04:37-04:40
“We have five boroughs in the city and small businesses are opening and operating throughout the entire city.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 05:27-05:36
“One year ago, we started Operation Padlock 2 Protect.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 05:36-05:42
“We started the operation Padlock to protect [legal cannabis businesses].”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 06:12-06:17
“The Corp Council is going through but it's not going to impact our enforcement effort.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 18:26-18:32
“We're going to go to Albany and explain why it's important not to allow any loopholes to exist.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 18:42-18:48
“The sheriff's department is looking at whatever restrictions are put in place and we're going to operate within them.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 18:48-18:56
“As we stated, 1400 illegal location. We're seeing a direct impact back into legal businesses.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 19:08-19:16
“Cash run business with bad guys know is cash runs only. They were preying on these illegal cannabis shop and causing a great deal of…”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 19:27-19:38
“One year has passed by and they had to close for a year.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 19:55-20:01
“The sheriff is going to methodically go to those location, unpack lock those locations or communicate with the business and tell them how to…”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 20:00-20:11
“There's a great demand because of the safety of this city, the success of our small business.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 20:14-20:19
“Small business and mwbs. They have been a major focus of this administration.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 20:54-21:01
“The amount of barriers that have prevented us from closing down illegal shops were unbelievable.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 24:37-24:44
“Those illegal shops were basically mocking the system, and it was hurting the legal shops.”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 24:43-24:49
“We need to match the industry with some real education to young people on the impacts of starting early, of using cannabis and brain…”
New York City Press Conference on Operation Padlock Anniversary with Mayor Eric Adams and Queens Chamber of Commerce | Uploaded May 14, 2025 | 25:09-25:20