New Jersey medical marijuana expansion bill could mean industry boom

New Jersey’s medical marijuana market appears poised for a major shot in the arm, with state lawmakers eyeing an expansion that could increase the number of MMJ dispensaries in the state from six to almost 100.

According to NJ.com, a bill making its way through the lower house of the state legislature would authorize “a maximum total” of 98 storefront dispensaries, which would put it more in line with medical marijuana industries being rolled out in nearby Maryland and Pennsylvania.

The bill – now awaiting a vote in the full Assembly – would also increase the number of legal permitted medical cannabis growers, from six to 15, and it would allow MMJ companies to begin producing edibles and extracts on a much broader scale than currently allowed.

Existing licensed MMJ dispensaries would each be allowed to open a pair of satellite storefronts, leaving up to 80 new dispensary permits for new market entrants.

But the industry growth would be phased in, depending on market demand, NJ.com reported.

Under the plan outlined in the bill, the state would take applications for 40 new dispensaries and six more cultivators. A two-year pause would ensure before more licenses were issued.

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