SOUTH JERSEY (KYW Newsradio) — One year ago today, New Jersey opened its recreational marijuana marketplace. While state officials say the industry is growing, they acknowledge it still remains a work in progress.
Most towns still don’t want marijuana businesses in their municipalities, but state Cannabis Regulatory Commission Executive Director Jeff Brown said some are coming around to the idea.
“The more municipalities that open up, the more available local licenses opportunities there will be. And the more available real estate there will be for cannabis businesses to operate in,” said Brown, though he admitted he’d like to see that process accelerate more.
“We have folks at the CRC who are focused on doing that, holding town halls with municipalities, conducting municipal outreach.”
Social equity was also a stated goal of the commission from the jump, but the state’s commitment to it has fallen short. There has been limited participation from targeted demographics — not for a lack of interest, but because legal and financial barriers remain. Brown believes this will be resolved as more licenses are awarded.
“We’re working to try and address those, but the future is strong here in New Jersey,” he assured.
Columbia Care in Vineland is one of the major players in the state. Dispensary operations keep expanding, and it is in a position to help aspiring entrepreneurs — namely, women and minority business owners — get started.
“Our philosophy at Columbia Care is a rising tide raises all ships,” said Vice President Volley Hayhurst, “so when we see these new licenses come online, the first thing we do is call them up — ‘Hey, let’s talk about a wholesale agreement.’”
Currently, there are approximately 30 dispensaries selling recreational marijuana and nearly 100 additional license yet to be approved.
The state brought in more than $300 million in sales last year. Once the market matures, Brown predicts it will rake in about $200 million a month.
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