New Jersey Cannabis
Get Started Now to Pursue Expanded Medical Marijuana Opportunities in New Jersey
On March 27, 2018, Governor Phil Murphy announced an expansion of New Jersey‘s medical marijuana program.
Changes include the addition of five new conditions to the approved list and a reduction in fees for participating doctors and patients. Other recommendations presented to Murphy, but not yet approved, include allowing companies to specialize in cultivation, processing or dispensing. The current licensees are required to do all three.
The New Jersey Department of Health issued a Request for Applications (“RFA”) in July 2018 for up to six additional treatment centers in order to immediately expand the program. The application submission period was August 1-31, 2018 and chosen applicants are anticipated to be announced on November 1, 2018. The NJDOH anticipates another RFA in the winter of 2019 for horizontal licenses using an “endorsement” system.
If you are interested in pursuing one of the new medical marijuana licenses in New Jersey, contact Canna Advisors today to discuss what you need to be doing now to be properly positioned to win a competitive license.
The Opportunity in New Jersey
The Governor has been outspoken that his eventual goal is to expand beyond medical marijuana to an adult-use program, making New Jersey one of the most talked-about cannabis markets in the industry.
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.
What's the Latest News on Cannabis Legalization in New Jersey?
Cannabis legalization is constantly changing, and Canna Advisors can help your cannabis business evolve and adapt to successfully navigate the New Jersey regulations. For the latest news and events in the industry, visit our Blog and News and Events pages, or have a look at some of the following top articles on cannabis legalization in New Jersey.
Jay Czarowski, Founder Partner at Canna Advisors, is now a member of the Board of Trustees of the New Jersey Cannabis Industry Association (NJCIA).
Jay brings his proven cannabis industry and entrepreneurial success to help shape the emerging industry and position the state's program for success.