Dispensary Permits in New Jersey
With the arrival of Phil Murphy as new governor of New Jersey, many people are wondering if his promises for recreational cannabis in the state will come true.
While it is not impossible to get the right paperwork and permission to start a New Jersey cannabis dispensary today, there is a caveat: cannabis dispensaries in New Jersey currently serve the medical market exclusively.
Adult recreational use is not currently permitted in New Jersey, but that may soon change. After all, New Jersey is a state of nearly 9 million people. It is attractive both as a legal cannabis market in its own right and as the neighbor to lucrative New York.
New Jersey’s medical cannabis program added almost 5,000 new participants in 2016. In that same period, it had more than 10,000 participants for the first time. Although only five total dispensaries were open the full year, they did diversify their product offerings significantly.
New Jersey Medical Cannabis Program a National Success Story
2016 saw the production of just under 2,700 pounds of medical cannabis in New Jersey. With the turnover of the governor’s office, however, it is believed that the state legislature will move forward at a much more brisk pace to expand the medical cannabis program.
About 12,154 patients are now active in New Jersey. Among those, nearly 39 percent suffer from a form of intractable skeletal spasticity, one of many qualifying conditions for the program. They benefit from symptom and pain relief when using appropriate cannabis medications.
So far, New Jersey has managed to serve a wide variety of patients with a relatively small budget of just $1.7 million. Tax on cannabis products is also low compared to many other markets. It currently stands at 7 percent, though any future recreational products may be taxed at higher rates.
How to Open a Dispensary in New Jersey: Current Considerations
New Jersey cannabis growing laws are fairly strict, but change may be arriving fast. As demand for medical cannabis expands, cannabis laws in New Jersey are likely to take a more liberal approach. The legislature is expected to reintroduce recreational legalization shortly.
If it does, legalization may occur as early as April 2018.
New Jersey has made available applications and licensing documents for alternative treatment centers that distribute medical cannabis. However, a whole new regulatory structure will be needed if, as hoped, recreational cannabis is embraced in the Garden State.
Retail establishments may not start to appear until 2019, but entrepreneurs who act now have the opportunity to launch at the start of this exciting market. American Cannabis Company can help you prepare and take the right steps for success. Our team has unbeatable expertise.
To learn more, contact us.