New Jersey Cannabis Licenses for Adult Recreational Use

New Jersey, with a population of nearly 9 million people, has become the epicenter of the East Coast’s green rush. Investors, businesspeople, professionals, operators, pharmacists, physicians, and entrepreneurs are all eyeing the adult-use industry in New Jersey, which is expected to be worth a billion dollars. Many who live in New York City (8.4 million people) and those who live elsewhere would find it convenient. New Jersey is ready to join the cannabis revolution that is sweeping the country. The emerging adult-use marijuana market in New Jersey is slated to be one of, if not the most, competitive cannabis markets in the world. As well as restricted licenses carrying the unlimited potential for growth and benefit.

Interested in applying?

Prepare for one of the industry’s most difficult and challenging application methods. The competition will be fierce, the conditions will be strict, the margin of error will be low, and the chances of winning will be unyieldingly small, given the amount of interest in the New Jersey market and the staggering value of an awarded license. However, if you have the time, money, energy, stamina, and dedication, you will achieve your goals.

A ton, but first and foremost, you’ll need to locate and secure a suitable piece of property. A retail pharmacy would have a storefront, a processing/manufacturing plant would have an industrial warehouse, and then a production operation would have a warehouse/greenhouse. Finding appropriate real estate is just half of the battle; you then must also get local permits from the host municipality. You’ll need to work on your company operating plan next (or at the same time). All aspects of your potential company must be created, thought about, mapped out, and scrutinized. It is important to consider and register anything from hiring and education methods to waste management and protection. Community relations and impact planning, social justice programs, and diversification are also on the table.

What types of Licenses are available?

Currently, there are six primary categories of licenses, but based on the proposed legislation, these are still subject to change

1.) Class 1 – Grower (grow, cultivate, and produce marijuana plants and raw materials)

2.) Class 2 – Processor (manufacture, prepare, and package marijuana items)

3.) Class 3 – Wholesaler (store, sell, and transfer marijuana items for resale)

4.) Class 4 – Distributor (transport bulk amounts of marijuana)

5.) Class 5 – Retailer (sell marijuana to consumers from retail store)

6.) Class 6 – Delivery Service (home delivery courier for Cannabis Retailers)

While it is not yet clear, it appears that only 37 cannabis grower licenses will be valid, including any existing Alternative Treatment Centers that obtain endorsement licenses to grow cannabis for personal non-medical use. The percentage of licenses issued to black, female, and disabled-veteran applicants will be 30%. Further, New Jersey residents who own and operate microbusinesses will receive 10% of each license class. We will grant priority to applicants who intend to operate in an economic impact zone or recruit staff from an economic impact zone (the areas with the highest number of marijuana arrests and socioeconomic factors).

What about the costs?

It depends on a variety of factors, including the type of license you’re applying for, whether you purchase or lease a home, the size and location of your real estate, renovation and retrofitting needs, previous experience, application writing fees, application and licensing fees, technical and legal fees, and consulting fees. The out-of-pocket expenses vary from a few hundred thousand dollas to several million dollas.