New Jersey launches application process to double medical cannabis licenses

New Jersey has opened the licensing application process that will lead to a doubling in the number of medical marijuana businesses serving the state, from the current six to 12.

Reflecting strong demand from entrepreneurs wanting to secure one of the six new licenses, more than 800 people attended a mandatory pre-application meeting on Thursday, according to New York Public Radio station WNYC.

Meanwhile, a top lawmaker in New Jersey predicted that a bill to legalize recreational marijuana might be acted on as early as next month, NJ.com reported Thursday.

The state’s MMJ expansion, pushed by Gov. Phil Murphy’s administration, comes at a time when patient numbers are growing rapidly. The program now serves 28,000 patients, according to the state Department of Health website, up from about 16,000 at the end of 2017.

On its website, the health department indicated it could issue even more MMJ licenses given “the unprecedented expansion of the program.”

New Jersey has a vertically integrated structure in which dispensaries grow their own marijuana to sell. Stand-alone wholesale cultivation operations aren’t allowed.

The deadline for the MMJ applications is Aug. 31. The state expects to select the winning applicants by Nov. 1.

The Marijuana Business Factbook 2018 projects that New Jersey MMJ sales this year will total $30 million-$35 million, up from $20 million-$25 million in 2017.

2 comments on “New Jersey launches application process to double medical cannabis licenses
  1. Caitlyn McCarty on

    We attended the event and have been talking to a lot of folks. Whoever wins is going to have to understand and respond to the sustainability concerns of the NJ Government and stakeholders. We have a relationship with a women-owned business that has done over $500 million in business with the State over the past 4 years and they are telling us that women and minority-owned businesses are going to be key in any deal with the State (confirmed by a minority-owned business that does electric vehicle charging stations.). We are aware that simple things like bike racks will make a difference in the application evaluation, but bigger things like solar and battery systems that can be used to both produce clean energy, provide perpetual security systems AND provide community services in the case of natural disasters will help tip the balance. We’d like to know what other people think. I am happy to talk about it if anyone is interested. [email protected]

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