The Garden State is moving forward with its legal recreational market
A total of 15 recreational cannabis businesses in New Jersey have just received approval for their operating licenses from the state’s cannabis regulator. This undoubtedly represents a historic milestone in the state’s fight to take its industry to the next level.
April marked an important month for Garden State as it kicked off adult-use cannabis sales. Since then, recreational products have only been available through existing medical dispensaries that gained approval to expand their operations. There are nearly 20 such businesses operating, and Curaleaf in Bordentown, one of the new medical dispensaries, recently got the green light to take its business to expand.
Businesses that focus only on the recreational market have been receiving licenses subject to conditions, giving them permission to continue to seek local approvals and locations. To date, just over 801 have been accounted for, including 297 that received the thumbs up yesterday. This does not mean that the businesses can open their doors as annual licenses are required to operate.
Those approvals have now been granted to 15 businesses, but their benefits may not be realized immediately. They have yet to provide information about their finances and operations to the state Cannabis Regulatory Commission’s investigative and compliance teams. Until then, the operating license will remain in limbo.
Of the 18 approved license applications, three constitute companies that are in line for multiple licenses for different types of operations. CRC Executive Director Jeff Brown called the approvals “monumental” for the agency. “This is the first cohort. This is the tip of the iceberg,” Brown said. “… This may seem like a small number, but as I said, it’s the tip of the iceberg and we’re going to keep moving forward.”