With the Expected Expansion to Adult Use in New Jersey, Now is the Time to Get Started
With a new governor in place, New Jersey is expected to expand its current medical marijuana program and implement an adult use program.
The Opportunity in New Jersey
Even before incoming Governor Murphy was sworn in, state legislators introduced legislation to move legalization forward.
Governor Murphy has committee to signing cannabis legalization legislation in his first 100 days in office and there is strong public support behind the effort.
Taking the time to put together a financial model and business plan now will help position you to raise capital, secure properties, win local approval, and recruit potential team members.
Conditions in New Jersey
The motivation in the state, fueled by building the tax base, will likely result in broad cannabis regulations that could be modeled after Colorado’s structure.
Even though there are no regulations finalized at this time, entrepreneurs and investors who are interested in getting into the cannabis industry should start their pre-license positioning now.
Bob Wagener, our VP of Business Development shares 4 insights in his blog post: