NEW JERSEY — Nearly 500 people established accounts on the state’s cannabis business application platform, with over 160 formally applying to be some of the first legal cannabis businesses in the state, New Jersey Cannabis Regulatory Commission officials announced.
The CRC opened up for applications for recreational cannabis cultivators, manufacturers and testing labs on Wednesday morning at 9 a.m. By 1 p.m. the application platform was averaging 155 new users per hour, officials said.
According to a spokesperson with the CRC, 160 applications were completed and submitted by Wednesday night.
“We are happy to reach this milestone,” said CRC Executive Director Jeff Brown. “Applications are coming in, the platform is performing well, and we can officially mark the launch of the state’s recreational cannabis industry. Getting cultivators, manufacturers, and testing labs licensed and operating will set the framework and establish supply for retailers who will start licensing in March 2022.”
That March timeline includes business owners who will apply for dispensary and retail shop licenses.
Applications will be reviewed as they come in, on a rolling basis, which the state hopes will provide business owners “timely access” to the market as it develops. Thus, there is no deadline for applications once the window does open. Read more: NJ Marijuana Market Rules Approved: Here’s What We Know
State officials are seeking to “address barriers to entry that have plagued some cannabis markets across the country” through the application and licensing process.
Among the ways in which state regulators are trying to right those wrongs is by having cheap application fees, which can be as low as $100, and by creating “flexible application requirements” for microbusinesses and people applying for conditional licenses.
Under the CRC’s rules, Social Equity Businesses, diversely-owned businesses, microbusinesses, and conditional license applicants will be prioritized in their review and scoring. These include businesses owned by individuals with past cannabis convictions, those from designated Economically Disadvantaged Areas, and minority-owned, woman-owned, and disabled-veteran owned businesses.
Recent Comments