Cannabis Status: Opening
In November 2020, the citizens of New Jersey overwhelmingly voted to approve Public Question 1, legalizing recreational cannabis in the state. After several months of delay in the State Assembly and Senate, a bill to implement the state’s cannabis program has officially been signed into law by the governor on February 22nd, 2021.
Under the bill, a Cannabis Regulatory Commission will be formed to regulate and oversee the licensing structure for the state. In the next few months, we will have more details on how to apply for a cannabis license in New Jersey.
The state is a highly anticipated market due to its geographic location, which will provide several opportunities for those in the state and those just outside the state in the tri-state area. On this page our team has done research on the New Jersey’s demographics, market analysis, taxation, cannabis regulations and more to assist clients in searching for the best property in the state.
Name: New Jersey
Population: 8,910,000
Median Income: $81,740
Cannabis Uses: Growth and Cultivation, Processing, Manufacturing, Preparing, Packaging, Transferring, Retail and Consumption
State Cannabis Overview: Under the bill, a Cannabis Regulatory Commission will be formed to regulate and oversee the licensing structure for the state. In the next few months, we will have more details on how to apply for a cannabis license in New Jersey.
